Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Labor Market Concentration PDF full book. Access full book title Labor Market Concentration by José Azar. Download full books in PDF and EPUB format.
Author: José Azar Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
A product market is concentrated when a few firms dominate the market. Similarly, a labor market is concentrated when a few firms dominate hiring in the market. Using data from the leading employment website CareerBuilder.com, we calculate labor market concentration for over 8,000 geographic-occupational labor markets in the US. Based on the DOJ-FTC horizontal merger guidelines, the average market is highly concentrated. Using a panel IV regression, we show that going from the 25th percentile to the 75th percentile in concentration is associated with a 15-25% decline in posted wages, suggesting that concentration increases labor market power.
Author: José Azar Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
A product market is concentrated when a few firms dominate the market. Similarly, a labor market is concentrated when a few firms dominate hiring in the market. Using data from the leading employment website CareerBuilder.com, we calculate labor market concentration for over 8,000 geographic-occupational labor markets in the US. Based on the DOJ-FTC horizontal merger guidelines, the average market is highly concentrated. Using a panel IV regression, we show that going from the 25th percentile to the 75th percentile in concentration is associated with a 15-25% decline in posted wages, suggesting that concentration increases labor market power.
Author: José Azar Publisher: ISBN: Category : Economic geography Languages : en Pages : 22
Book Description
A product market is concentrated when a few firms dominate the market. Similarly, a labor market is concentrated when a few firms dominate hiring in the market. Using data from the leading employment website CareerBuilder.com, we calculate labor market concentration for over 8,000 geographic-occupational labor markets in the US. Based on the DOJ-FTC horizontal merger guidelines, the average market is highly concentrated. Using a panel IV regression, we show that going from the 25th percentile to the 75th percentile in concentration is associated with a 15-25% decline in posted wages, suggesting that concentration increases labor market power.
Author: Alan Manning Publisher: Princeton University Press ISBN: 1400850673 Category : Business & Economics Languages : en Pages : 414
Book Description
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 minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies. Monopsony in Motion will represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.
Author: Aysegul Sahin Publisher: ISBN: 9781457838200 Category : Economics Languages : en Pages : 79
Book Description
We develop a framework where mismatch between vacancies and job seekers across sectors translates into higher unemployment by lowering the aggregate job-finding rate. We use this framework to measure the contribution of mismatch to the recent rise in U.S. unemployment by exploiting two sources of cross-sectional data on vacancies, JOLTS and HWOL, a new database covering the universe of online U.S. job advertisements. Mismatch across industries and occupations explains at most 1/3 of the total observed increase in the unemployment rate, whereas geographical mismatch plays no apparent role. The share of the rise in unemployment explained by occupational mismatch is increasing in the education level.
Author: Satoshi Araki Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Drawing upon data from the largest cross-country study of labor market concentration to date, this paper analyzes the level of concentration of labor input markets in Europe and North America and provides a comparative perspective on employers' monopsony power. It explores the characteristics of monopsony in labor markets and documents its impact by looking at the magnitude of employer concentration in selected jurisdictions. Using a harmonized dataset of online vacancies, this paper shows that European labor markets are no more competitive than North American ones. It also supports the view that the effects of concentration on labor markets are broadly similar in both Europe and North America, despite the much stronger labor market institutions in Europe. The article shows that there is no apparent economic or legal justification for a lack of enforcement activity by European competition authorities in labor markets relative to the US. While enforcement action has picked up in the last two years in Europe, there is likely still scope for a significant increase in the role of competition enforcement in labor markets. The article identifies sectors and practices that may be scrutinized with priority by European competition authorities and proposes a mix of enforcement, merger control and well-targeted policy and regulatory solutions to address employers' monopsony power.
Author: Robert L. Bunting Publisher: ISBN: Category : Business & Economics Languages : en Pages : 208
Book Description
In this comprehensive study of factor market concentrations, a beginning has been made in the direction of filling the gap in the knowledge of factors of production for markets in the area of labor. The author examines theories of concentration and monopsony in this study. Originally published in 1962. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.
Author: Eric A. Posner Publisher: Oxford University Press ISBN: 019750762X Category : LAW Languages : en Pages : 225
Book Description
"Antitrust law has very rarely been used by workers to challenge anticompetitive employment practices. Yet recent empirical research shows that labor markets are highly concentrated, and that employers engage in practices that harm competition and suppress wages. These practices include no-poaching agreements, wage-fixing, mergers, covenants not to compete, and misclassification of gig workers as independent contractors. This failure of antitrust to challenge labor-market misbehavior is due to a range of other failures-intellectual, political, moral, and economic. And the impact of this failure has been profound for wage levels, economic growth, and inequality. In light of the recent empirical work, it is urgent for regulators, courts, lawyers, and Congress to redirect antitrust resources to labor market problems. This book offers a strategy for judicial and legislative reform"--
Author: Ufuk Akcigit Publisher: International Monetary Fund ISBN: 1513512080 Category : Business & Economics Languages : en Pages : 34
Book Description
Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will further strengthen market concentration. Whether and how policymakers should address this issue is hotly debated. This note provides new evidence on the policy relevance of rising market power and highlights possible implications for the design of competition policy frameworks and macroeconomic policies.
Author: Katelyn Davis Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Research has shown that U.S. labor markets are highly concentrated, threatening the welfare of American workers by lowering wages. Using establishment level data from the U.S. Census Bureau County Business Patterns, this thesis provides the first look at how the Covid-19 pandemic impacted the relationship between labor market concentration and wages in the United States. The analysis focuses on four sectors that were highly impacted by the pandemic: (1) healthcare, (2) food and accommodation, (3) arts, entertainment, and recreation, (4) and retail trade. The econometric model, using a new time period of data, confirms prior findings of a negative relationship between labor market concentration in both the arts, entertainment, and recreation and retail trade sectors. Additional analysis indicates that, in all sectors except healthcare, an increase in HHI further decreased wages in the aftermath of the pandemic. These findings serve as guidance to policy makers, highlighting the impact of the recent shifts in the labor market on workers.
Author: Yue Qiu Publisher: ISBN: Category : Languages : en Pages : 79
Book Description
This paper estimates the effect of labor-market concentration on labor compensation across the U.S. private sector since 2000. We distinguish between concentration in local labor markets versus local product markets, guarding against bias from confounded product-market concentration. Analysis extends beyond wages to rates of employment-based health insurance coverage. Estimates suggest negative effects of labor-market concentration on labor compensation. This comes through both reducing the human-capital level of those in the market and reducing pay conditional on human-capital level. Higher product-market concentration exacerbates and higher unionization rates mitigates these effects.
Author: José Azar
Author: José Azar
Author: José Azar
Author: Alan Manning
Author: Aysegul Sahin
Author: Satoshi Araki
Author: Robert L. Bunting
Author: Eric A. Posner
Author: Ufuk Akcigit
Author: Katelyn Davis
Author: Yue Qiu