WebApr 1, 2024 · We find that a 10% increase in labor market concentration lowers the number of new hires by about 3.2%. That labor market concentration decreases wages and hires is exactly what economic theory would predict in an oligopsonistic labor market (Manning, 2011, Azar, Marinescu, Steinbaum, 2024). Our second finding concerns the impact of … WebWe show how wages depend on employment concentration and then use the model to quantify the effects of granular market power. In Austrian micro-data, we find that granular market power depresses wages by about ten percent and can explain 40 percent of the observed decline in the labor share from 1997 to 2015.
Granular Search, Market Structure, and Wages NBER
WebThe Microeconometrics Seminar: Every Tuesday at 12:15 pm. Time: 12:15 pm – 1:30 pm Date: 5 th of September 2024 Exceptionally Thursday Place: Room 3001Isaac SORKIN (Stanford University) – “Granular Search, Market Structure, and Wages” Abstract: We build a framework where firm size is a source of market power. The key mechanism is … WebJan 14, 2024 · We show how wages depend on employment concentration and then use the model to quantify the effects of granular market power. In Austrian micro-data, we find that granular market power depresses wages by about ten percent and can explain 40 percent of the observed decline in the labor share from 1997 to 2015. flower child warringah mall
Granular Search, Market Structure and Wages
WebWe develop a model where labor market structure affects the division of surplus between firms and workers. Using Austrian data we show that in more concentrated labor … WebWe show how wages depend on employment concentration and then use the model to quantify the effects of granular market power. In Austrian micro-data, we find that … WebWe show how wages depend on employment concentration and then use the model to quantify the effects of granular market power. In Austrian micro-data, we find that granular market power depresses wages by about ten percent and can explain 40 percent of the observed decline in the labor share from 1997 to 2015. flower child vintage columbus ohio