Monopsony in Motion Imperfect Competition in Labor Markets

• Main Author: Manning, Alan
• Format: eBook Publication
• Language: English
• Published: Princeton, NJ Princeton University Press 2013
• Subjects: Bilateral monopoly; Business; BUSINESS & ECONOMICS; BUSINESS & ECONOMICS / Economics / General; BUSINESS & ECONOMICS / Labor; Compensating differential; Competition; Cost curve; Cultural lag; Demand curve; Demand For Labor; Downside risk; Dynamic programming; Economic interventionism; Economic surplus; Economics; Efficiency wage; Elasticity of substitution; Employment; Envelope theorem; Excess supply; Exhaustion; Externality; Frictional unemployment; Gender pay gap; Human capital; Indifference curve; Inequality of bargaining power; Involuntary unemployment; Job security; Labor; Labor & Industrial Relations; Labor demand; Labor economics; Labor market; Labour power; Labour supply; Layoff; Marginal cost; Marginal product; Marginal rate of substitution; Market failure; Market power; Maximum wage; Minimum wage; Monopsonies; Monopsony; Natural rate of unemployment; Negative binomial distribution; Neoclassical economics; Oligopoly; Oligopsony; Opportunity cost; Ordinary least squares; Partial equilibrium; Perfect competition; POLITICAL SCIENCE; POLITICAL SCIENCE / Labor & Industrial Relations; Price elasticity of supply; Production function; Productivity; Profit (economics); Profit maximization; Rate of exploitation; Reservation wage; Risk aversion; Salary; Search theory; Shortage; Spillover effect; Stylized fact; Supply (economics); Supply shock; Tax; Trade union; Unemployment; Unemployment in the United States; Union wage premium; Utility; Wage; Wage compression; Wages; Working poor; Working poor; Economic interventionism; Tax; Production function; Economic surplus; Utility; Price elasticity of supply; Monopsony; Marginal rate of substitution; Labour supply; Economics; Frictional unemployment; Productivity; Job security; Perfect competition; Supply (economics); Unemployment; Market failure; Rate of exploitation; Indifference curve; Natural rate of unemployment; Opportunity cost; Neoclassical economics; Union wage premium; Profit maximization; Wage compression; Search theory; Efficiency wage; Elasticity of substitution; Salary; Reservation wage; Trade union; Market power; Excess supply; Externality; Negative binomial distribution; Compensating differential; Marginal product; Shortage; Layoff; Employment; Ordinary least squares; Dynamic programming; Cost curve; Oligopoly; Maximum wage; Partial equilibrium; Spillover effect; Wage; Inequality of bargaining power; Human capital; Demand curve; Minimum wage; Gender pay gap; Cultural lag; Demand For Labor; Supply shock; Risk aversion; Unemployment in the United States; Oligopsony; Bilateral monopoly; Stylized fact; Labour power; Exhaustion; Labor demand; Envelope theorem; Downside risk; Involuntary unemployment; Marginal cost; Profit (economics)
• ISBN: 0691123284; 9780691123288; 9781400850679; 1400850673
• DOI: 10.1515/9781400850679

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 Motionstands apart by analyzing labor markets...

Table of Contents:

• Front Matter Table of Contents Preface 1: Introduction 2: Simple Models of Monopsony and Oligopsony 3: Efficiency in Oligopsonistic Labor Markets 4: The Elasticity of the Labor Supply Curve to an Individual Firm 5: The Wage Policies of Employers 6: Earnings and the Life Cycle 7: Gender Discrimination in Labor Markets 8: Employers and Wages 9: Unemployment, Inactivity, and Labor Supply 10: Vacancies and the Demand for Labor 11: Human Capital and Training 12: The Minimum Wage and Trade Unions 13: Monopsony and the Big Picture Data Sets Appendix Bibliography Index
• Cover Title Page, Copyright Contents Preface PART ONE: BASICS 1. Introduction 2. Simple Models of Monopsony and Oligopsony 3. Efficiency in Oligopsonistic Labor Markets 4. The Elasticity of the Labor Supply Curve to an Individual Firm PART TWO: THE STRUCTURE OF WAGES 5. The Wage Policies of Employers 6. Earnings and the Life Cycle 7. Gender Discrimination in Labor Markets 8. Employers and Wages PART THREE: LABOR DEMAND AND SUPPLY 9. Unemployment, Inactivity, and Labor Supply 10. Vacancies and the Demand for Labor 11. Human Capital and Training PART FOUR: WAGE-SETTING INSTITUTIONS AND CONCLUSIONS 12. The Minimum Wage and Trade Unions 13. Monopsony and the Big Picture Data Sets Appendix Bibliography Index
• 9 Unemployment, Inactivity, and Labor Supply --
• 12 The Minimum Wage and Trade Unions --
• Contents --
• 2 Simple Models of Monopsony and Oligopsony --
• Part Three LABOR DEMAND AND SUPPLY --
• 11 Human Capital and Training --
• Preface --
• 10 Vacancies and the Demand for Labor --
• Part Two THE STRUCTURE OF WAGES --
• Part Four WAGE-SETTING INSTITUTIONS AND CONCLUSIONS --
• 3 Efficiency in Oligopsonistic Labor Markets --
• 4 The Elasticity of the Labor Supply Curve to an Individual Firm --
• Index
• Part One BASICS --
• 1 Introduction --
• 5 The Wage Policies of Employers --
• 6 Earnings and the Life Cycle --
• Frontmatter --
• 13 Monopsony and the Big Picture --
• Bibliography --
• 7 Gender Discrimination in Labor Markets --
• 8 Employers and Wages --
• Data Sets Appendix --