- When few firms dominate a market, wages decline (consistent with the economic theory of monopsony). "Going from the 25th percentile to the 75th percentile in concentration is associated with a 5% (OLS) to 17% (IV) decline in posted wages." http://jhr.uwpress.org/content/early/2020/05/04/jhr.monopsony.1218-9914r1.full.pdf+html 10 comments science
Linking pages
- A Planned Biden Order Aims to Tilt the Job Market Toward Workers - The New York Times https://www.nytimes.com/2021/07/07/upshot/biden-executive-order-workers.html 83 comments
- FACT SHEET: Executive Order on Promoting Competition in the American Economy | The White House https://www.whitehouse.gov/briefing-room/statements-releases/2021/07/09/fact-sheet-executive-order-on-promoting-competition-in-the-american-economy/ 14 comments