Strong Employers and Weak Employees
| Autor: | Efraim Benmelech, Nittai K. Bergman, Hyunseob Kim |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Organizational Behavior and Human Resource Management
Economics and Econometrics 050208 finance Strategy and Management 05 social sciences Market concentration Monopsony Affect (psychology) Competition (economics) Shock (economics) Management of Technology and Innovation 0502 economics and business Economics Demographic economics 050207 economics Wage growth health care economics and organizations |
| Zdroj: | Journal of Human Resources. 57:S200-S250 |
| ISSN: | 1548-8004 0022-166X |
| Popis: | We analyze the effect of local-level labor market concentration on wages. Using Census data over the period 1977–2009, we find that: (1) local-level employer concentration exhibits substantial cross-sectional and time-series variation and increases over time; (2) consistent with labor market monopsony power, there is a negative relation between local-level employer concentration and wages that is more pronounced at high levels of concentration and increases over time; (3) the negative relation between labor market concentration and wages is stronger when unionization rates are low; (4) the link between productivity growth and wage growth is stronger when labor markets are less concentrated; and (5) exposure to greater import competition from China (the “China Shock”) is associated with more concentrated labor markets. These five results emphasize the role of local-level labor market monopsonies in influencing firm wage-setting behavior and can potentially explain some of the stagnation of wages in the United States over the past several decades. |
| Databáze: | OpenAIRE |
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