The model of compensating wage differentials is among the cornerstone models of
equilibrium wage determination in labor economics. However, empirical estimates of …

In recent years, there has been increasing interest in whether and how bureaucratic
effectiveness contributes to development. Just what makes for an effective bureaucracy and …

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 …

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 …

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

US fair-lending law prohibits lenders from making credit determinations that disparately
affect minority borrowers if those determinations are based on characteristics unrelated to …

How important is human capital at the top of the US income distribution? A primary source of
top income is private “pass-through” business profit, which can include entrepreneurial labor …

Standard labor market models assume that workers hold accurate beliefs about the external
wage distribution, and hence their outside options with other employers. We test this …

We quantify the importance of imperfect competition in the US labor market by estimating the
size of labor market rents earned by American firms and workers. We construct a matched …

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 …