Monopsony Power in Occupational Labor Markets

Fabio Mendez () and Facundo Sepúlveda ()
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Facundo Sepúlveda: Universidad de Santiago de Chile

Journal of Labor Research, 2019, vol. 40, issue 4, No 1, 387-411

Abstract: Abstract We collect data from the 1979 National Longitudinal Survey of Youth and create comparable measures of monopsonistic power for up to 46 occupational labor markets in the USA, starting in 1979 and ending in 2000. Our results suggest most occupational labor markets during that period were characterized by substantial amounts of monopsonistic, wage-setting power. Furthermore, after controlling for individual, time, and industry fixed effects, our results show a negative and significant correlation between the extent of monopsony power that characterizes a market and both, the wages and fringe benefits received by workers.

Keywords: Monopsony; Wages; Fringe benefits (search for similar items in EconPapers)
JEL-codes: J31 J42 J51 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s12122-019-09289-w

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