Titelaufnahme

Titel
Labor market power / David Berger (Northwestern University), Kyle Herkenhoff (University of Minnesota and IZA), Simon Mongey (University of Chicago) ; IZA Institute of Labor Economics
VerfasserBerger, David ; Herkenhoff, Kyle ; Mongey, Simon
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, April 2019
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (78 Seiten) : Diagramme
SerieDiscussion paper ; no. 12276
URLVolltext
URNurn:nbn:de:hbz:5:2-187536 
Zugänglichkeit
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
Volltexte
Labor market power [1.96 mb]
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Verfügbarkeit In meiner Bibliothek
Zusammenfassung (Englisch)

What are the welfare implications of labor market power? We provide an answer to this question in two steps: (1) we develop a tractable quantitative, general equilibrium, oligopsony model of the labor market, (2) we estimate key parameters using within-firmstate, across-market differences in wage and employment responses to state corporate tax changes in U.S. Census data. We validate the model against recent evidence on productivity-wage pass-through, and new measurements of the distribution of local market concentration. The model implies welfare losses from labor market power that range from 2.9 to 8.0 percent of lifetime consumption. However, despite large contemporaneous losses, labor market power has not contributed to the declining labor share. Finally, we show that minimum wages can deliver moderate, and limited, welfare gains by reallocating workers from smaller to larger, more productive firms.