Monopsony in Motion: Imperfect Competition in Labor Markets

Monopsony in Motion: Imperfect Competition in Labor Markets
Автор
 
Год
 
Страниц
 
416
ISBN
 
0691123284
Издатель
 
World Bank Publications
Категория
 
Новинки в Биографии
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Описание:

What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition. Monopsony in Motion stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption. The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the...

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