. To reach this conclusion, we exploit rich administrative data for U.S. manufacturers and estimate plant-level markdowns …-the ratio between a plant's marginal revenue product of labor and its wage. In a competitive labor market, markdowns would be … equal to unity. Instead, we find substantial deviations from perfect competition, as markdowns average 1.53. This result …

. To reach this conclusion, we exploit rich administrative data for U.S. manufacturers and estimate plant-level markdowns …—the ratio between a plant’s marginal revenue product of labor and its wage. In a competitive labor market, markdowns would be … equal to unity. Instead, we find substantial deviations from perfect competition, as markdowns average 1.53. This result …

This paper summarizes the results of nearly a dozen new papers presented at the Sundance Conference on Monopsony in …, study various aspects of monopsony and failures of competition in labor markets. It also reports on the new developments in …

This paper summarizes the results of nearly a dozen new papers presented at the Sundance Conference on Monopsony in …, study various aspects of monopsony and failures of competition in labor markets. It also reports on the new developments in …

We contribute a theory in which three channels interact to determine the degree of monopsony power and therefore the … quantifies the contribution of each channel to income inequality and wage markdowns. The average markdown is 21 percent in our … process is an important source of markdowns. Removing search frictions narrows them by two-thirds. Each counterfactual reduces …

We contribute a theory in which three channels interact to determine the degree of monopsony power and therefore the … quantifies the contribution of each channel to income inequality and wage markdowns. The average markdown is 21 percent in our … process is an important source of markdowns. Removing search frictions narrows them by two-thirds. Each counterfactual reduces …