Wage-Productivity Margins and Market Structure

Geoff Stewart

The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics

Abstract: The main aim of this paper is to suggest a model which relates wage rates to the degree monopsony power in the labour market. Labour market monopsony power has received relatively little theoretical or empirical attention, yet there are a number of reasons for believing it may be a fairly general phenomenon. Firstly, imperfect worker information on the existence and characteristics of alternative jobs will tend to impart a positive slope to the supply curve of labour facing a firm. Secondly, there are many social and institutional barriers to geographical mobility. Finally, the literature on segmented labour markets emphasises the barriers to mobility between jobs even within a region.

Pages: 14 pages
Date: 1983
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https://warwick.ac.uk/fac/soc/economics/research/w ... 78-1988/twerp225.pdf

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Persistent link: https://EconPapers.repec.org/RePEc:wrk:warwec:225

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