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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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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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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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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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Classic Monopsony or New Monopsony? : Searching for Evidence in Nursing Labor Markets
Schumacher, Edward J.; Hirsch, Barry T. - 2004
The market for hospital registered nurses (RNs) is often offered as an example of ?classic? monopsony, while a ?new …? monopsony literature emphasizes firm labor supply being upwardsloping for reasons other than market structure. Using data from … several sources, we explore the relationship between wages and measures of classic and new monopsony. Micro wage data for 1993 …
Persistent link: https://www.econbiz.de/10010261903
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Employer Market Power in Silicon Valley
Gibson, Matthew - 2021
Adam Smith alleged that secret employer collusion to reduce labor earnings is common. This paper examines an important case of such behavior: no-poach agreements through which technology companies agreed not to compete for each other's workers. Exploiting the plausibly exogenous timing of a US...
Persistent link: https://www.econbiz.de/10012882419
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Policy brief: Employer market power in Silicon Valley
Gibson, Matthew - 2021
Adam Smith alleged that secret employer collusion to reduce labor earnings is common. This paper examines an important case of such behavior: no-poach agreements through which technology companies agreed not to compete for each other's workers. Exploiting the plausibly random timing of a US...
Persistent link: https://www.econbiz.de/10013365399
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Labor Market Concentration
Azar, José; Marinescu, Ioana E.; Steinbaum, Marshall - 2017
A product market is concentrated when a few firms dominate the market. Similarly, a labor market is concentrated when a few firms dominate hiring in the market. Using data from the leading employment website CareerBuilder.com, we calculate labor market concentration for over 8,000...
Persistent link: https://www.econbiz.de/10011816526
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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/10012145563