Marshall Lecture 2020: The Measure of Monopsony. Issue 6 (10th September 2021)

• Record Type: Journal Article
• Authors: Langella, Monica; Manning, Alan
• Is Part Of: Journal of the European Economic Association. Volume 19:Issue 6(2021)
• Page Start: 2929
• Page End: 2957
• Publication Date: 2021-09-10
• Subjects: Economics -- Periodicals; Économie politique -- Périodiques; Science économique; Périodique électronique (Descripteur de forme); Ressource Internet (Descripteur de forme); 330
• DOI: 10.1093/jeea/jvab039
• Languages: English
• ISSNs: 1542-4766

Abstract

Abstract: There has been increasing interest in recent years in monopsony in the labour market. This paper discusses how we can measure monopsony power by combining insights from models based on both frictions and idiosyncrasies. It presents some evidence from the United Kingdom and the United States about how monopsony power varies across the wage distribution within markets, over the business cycle and over time.