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Thorstein Veblen, Joan Robinson, and George Stigler (probably) never met : social preferences, monopsony, and government intervention
Goerke, Laszlo; Neugart, Michael - 2020
Wages and employment are too low in a monopsony. Furthermore, a minimum wage or a subsidy may raise employment up to … benchmark for welfare comparisons. Third, we derive a condition which guarantees that the monopsony distortion is exactly …
Persistent link: https://www.econbiz.de/10012160637
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Optimal Taxation and Monopsonistic Labor Market : Does Monopsony Justify the Minimum Wage?
Cahuc, Pierre; Laroque, Guy - 2021
We analyze optimal taxation in an economy with monopsonistic labor markets. The individuals, whose only decisions are …
Persistent link: https://www.econbiz.de/10013316879
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Imperfect competition, compensating differentials and rent sharing in the U.S. labor market
Lamadon, Thibaut; Mogstad, Magne; Setzler, Bradley - 2019
The primary goal of our paper is to quantify the importance of imperfect competition in the U.S. labor market by estimating the size of rents earned by American firms and workers from ongoing employment relationships. To this end, we construct a matched employeremployee panel data set by...
Persistent link: https://www.econbiz.de/10012105121
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Rent sharing, wage floors, and development
Budlender, Joshua; Bassier, Ihsaan - 2023
Faced with more favourable demand conditions, many firms raise wages. However, we show that firms with labour market power, lower productivity, and binding wage floors will absorb these positive revenue productivity shocks as excess profits instead of increasing wages or employment. Our...
Persistent link: https://www.econbiz.de/10014422416
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Tax curvature
Hummel, Albert Jan - 2021
In a Mirrleesian environment, a monopsonist sets hourly wages and individuals choose how many hours to work. Labor market outcomes do not only depend on the level and slope of the income tax function, but also on its curvature. A more concave tax schedule raises the elasticity of labor supply,...
Persistent link: https://www.econbiz.de/10012595290
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Monopsony power, income taxation and welfare
Hummel, Albert Jan - 2021
This paper studies the implications of monopsony power for optimal income taxation and welfare. Firms observe workers …' abilities while the government does not and monopsony power determines what share of the labor market surplus is translated into … profits. Monopsony power increases the tax incidence that falls on firms. This makes labor income taxes less (more) effective …
Persistent link: https://www.econbiz.de/10012534827
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Monopsony power, income taxation and welfare
Hummel, Albert Jan - 2021
This paper studies the implications of monopsony power for optimal income taxation and welfare. Firms observe workers …' abilities while the government does not and monopsony power determines what share of the labor market surplus is translated into … profits. Monopsony power increases the tax incidence that falls on firms. This makes labor income taxes less (more) effective …
Persistent link: https://www.econbiz.de/10012545131
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Tax curvature
Hummel, Albert Jan - 2021
In a Mirrleesian environment, a monopsonist sets hourly wages and individuals choose how many hours to work. Labor market outcomes do not only depend on the level and slope of the income tax function, but also on its curvature. A more concave tax schedule raises the elasticity of labor supply,...
Persistent link: https://www.econbiz.de/10012599164
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The cyclical behaviour of employers' monopsony power and workers' wages : conference paper
Hirsch, Boris; Jahn, Elke J.; Schnabel, Claus - 2014
This paper investigates the behaviour of employers' monopsony power and workers' wages over the business cycle. Using … unemployment rate. In line with theory, we find that firms possess more monopsony power during economic downturns, which shows to … workers' entry wages are of similar magnitude as those predicted under monopsonistic wage setting, suggesting that monopsony …
Persistent link: https://www.econbiz.de/10010485288
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Monopsony power, income taxation and welfare
Hummel, Albert Jan - 2021
This paper studies the implications of monopsony power for optimal income taxation and welfare. Firms observe workers …' abilities while the government does not and monopsony power determines what share of the labor market surplus is translated into … profits. Monopsony power increases the tax incidence that falls on firms. This makes labor income taxes less (more) effective …
Persistent link: https://www.econbiz.de/10013223829