Open AccessPosted Content
Labor Market Concentration
TLDR
The authors used data from the leading employment website CareerBuilder.com to calculate labor market concentration for over 8,000 geographic-occupational labor markets in the US and found that the average market is highly concentrated and that going from the 25th percentile to the 75th percentile in concentration is associated with a 17% decline in posted wages.Abstract:
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 17% decline in posted wages, suggesting that concentration increases labor market power.read more
Citations
More filters
Posted Content
Monopsony in the Labor Market
TL;DR: The authors surveys recent theoretical and empirical research on monopsony in labor markets, broadly defined as upward-sloping labor supply to an employer, and compares older models based on small numbers of employers with newer models based upon labor market frictions such as moving costs and search.
Posted Content
Strong Employers and Weak Employees: How Does Employer Concentration Affect Wages?
TL;DR: The authors analyzed the effect of local-level labor market concentration on wages using plant-level U.S. Census data over the period 1977-2009, and found that locallevel employer concentration exhibits substantial cross-sectional and time-series variation and increases over time.
Journal ArticleDOI
Monopsony in the Labor Market
TL;DR: The authors surveys recent theoretical and empirical research on monopsony in labor markets, broadly defined as upward-sloping labor supply to an employer, and suggests that monopsoniness power based on small numbers of employers is probably rare but occasionally large.
Journal ArticleDOI
Do Increasing Markups Matter? Lessons from Empirical Industrial Organization
TL;DR: In this article, the authors consider the recent literature on firm markups in light of both new and classic work in the field of industrial organization and detail the shortcomings of papers that rely on discredited approaches from the "structure-conduct-performance" literature.
Journal ArticleDOI
Universal Basic Income in the United States and Advanced Countries
TL;DR: In this article, the authors discuss the potential role of universal basic income (UBI) in advanced countries and discuss the UBI's potential role in the development of well-developed countries.
References
More filters
Journal ArticleDOI
The China Syndrome: Local Labor Market Effects of Import Competition in the United States
TL;DR: This paper analyzed the effect of Chinese import competition between 1990 and 2007 on US local labor markets, exploiting cross-market variation in import exposure stemming from initial diffe cerence to US labor markets.
Posted Content
Measuring Market Power in the Ready-to-Eat Cereal Industry
Aviv Nevo,Aviv Nevo +1 more
TL;DR: The authors empirically examined the ready-to-eat cereal industry and found that the prices in the industry are consistent with non-collusive pricing behavior to maintain a portfolio of differentiated products, and it is these two factors that lead to high price cost margins.
Posted Content
The Fall of the Labor Share and the Rise of Superstar Firms
TL;DR: In this paper, the authors analyzed micro panel data from the U.S. Economic Census since 1982 and international sources and document empirical patterns to assess a new interpretation of the fall in the labor share based on the rise of "superstar firms."
United States V. _____
TL;DR: The case of Nitokalisi Fonua (hereinafter, "Nick") as mentioned in this paper, who admitted to stealing a white GMC Blazer from a motel room at the Days Inn in Utah.
Journal ArticleDOI
Firms and Labor Market Inequality: Evidence and Some Theory
TL;DR: This article synthesize two related literatures on firm-level drivers of wage inequality and develop a model of wage setting in which workers have idiosyncratic tastes for different workplaces, which can rationalize standard fixed effects specifications and also match the typical rent-sharing elasticities in the literature.