Alan Manning : Monopsony in Motion
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منابع مشابه
Is Monopsony the Right Way to Model Labor Markets? A Review of Alan Manning’s Monopsony in Motion
Manning proposes that the ‘traditional’ monopsony model, once regarded as an analytical curiosity, be adopted as a widely-applicable description of firms’ behavior in labor markets. In Manning’s view, search frictions in the labor market generate upwardsloping labor supply curves to individual firms even when firms are small relative to the labor market. Thus a model of ‘monopsonistic competiti...
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Models of ‘modern monopsony’ based on job differentiation and/or search frictions seem to give employers non-negligible market power over their workers while avoiding the assumption of ‘classical monopsony’ that employers are large in relation to the size of the labour market that many labour economists find implausible. But, this paper argues that this is somewhat of an illusion because modern...
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This paper shows, using data from both the US and the UK, that average plant size is larger in denser markets. However, many popular theories of agglomeration – spillovers, cost advantages and improved match quality – predict that establishments should be smaller in cities. The paper proposes a theory based on monopsony in labour markets that can explain the stylized fact – that firms in all la...
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This paper shows, using data from both the US and the UK, that average establishment size is larger in denser market areas. However, canonical versions of theories of agglomeration – spill-overs, cost advantages and improved match quality – all predict that establishments should be smaller in cities. The paper proposes a theory based on monopsony in labour markets that can explain the stylized ...
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Recent work on the economic effects of minimum wages has stressed that the standard economic model, where increases in minimum wages depress employment, is not supported by empirical work in some labor markets. We present a general theoretical model whereby employers have some degree of monopsony power, which allows minimum wages to have the conventional negative impact on employment but which ...
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