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Monopsony in Motion : Imperfect Competition in Labor Markets by Alan Manning, Alan Manning is a nonfiction available to read on EtoBox.

What is Monopsony in Motion : Imperfect Competition in Labor Markets about?

What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition.__Monopsony in Motion__stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption.The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-mi

Who reads Monopsony in Motion : Imperfect Competition in Labor Markets?

Author

Alan Manning, Alan Manning

Publisher

Princeton University Press

Published

2005

Language

EN

ISBN

9780691123288

Category

nonfiction

Subjects

Political Science, Business, Economics