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What is Monopsony Impact on Labor Markets about?

This paper develops a New Keynesian dynamic stochastic general equilibrium model to analyze labor market power, distinguishing between monopsony and monopoly conditions. The findings indicate that while the hybrid model incorporating both types of labor market power fits the data better than traditional models, the share of labor in monopsonistic markets is relatively small at about 11%. Consequently, the dynamics of the model are similar to those of the standard setup, with notable exceptions in responses

Author

compras02

Language

EN