Researchers' interest in monopsony has increased in recent years. This article reviews the
accumulating evidence that employers have considerable monopsony power. It summarizes …

Impacts of minimum wages: Page 1 1 Contents Executive summary 2 Chapter 1 Introduction –
motivation for a minimum wage, and current policy context 6 Chapter 2 Who would be affected by …

This paper quantifies employer market power in US manufacturing and how it has changed
over time. Using administrative data, we estimate plant-level markdowns—the ratio between …

This paper synthesizes what economists have learned about human capital since Becker
(1962) into four stylized facts. First, human capital explains at least one-third of the variation …

In order to better understand the complex and dialectical relationships between digital
technologies, innovation, and skills, it is necessary to improve our understanding of the …

I discuss the recent literature that has led to new interest in the idea of monopsonistic wage
setting. Building on advances in search theory and in models of differentiated products …

We investigate the wage, employment, and reallocation effects of the introduction of a
nationwide minimum wage in Germany that affected 15% of all employees. Based on …

Labor market tightness following the height of the Covid-19 pandemic led to an unexpected
compression in the US wage distribution that reflects, in part, an increase in labor market …

A product market is concentrated when a few firms dominate the market. Similarly, a labor
market is concentrated when a few firms dominate hiring in the market. Using data from the …

We develop, estimate, and test a tractable general equilibrium model of oligopsony with
differentiated jobs and concentrated labor markets. We estimate key model parameters by …