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

Can we really use economic thinking to understand our health care system? Health
Economics, now in its sixth edition, not only shows how this is done, but also provides the …

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 …

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 …

Recent research indicates that labor market power has contributed to wage inequality and
economic stagnation. Although the antitrust laws prohibit firms from restricting competition in …

We analyze the effect of local-level labor market concentration on wages. Using plant-level
US Census data during 1978–2016, we find that:(i) local-level employer concentration …

We synthesize two related literatures on firm-level drivers of wage inequality. Studies of rent
sharing that use matched worker-firm data find elasticities of wages with respect to value …

Using data on the near-universe of US online job vacancies collected by Burning Glass
Technologies in 2016, we calculate labor market concentration using the Herfindahl …

Despite the seemingly low switching and search costs of on-demand labor markets like
Amazon Mechanical Turk, we find substantial monopsony power, as measured by the …