Overall, the growing body of literature indicates a consensus that firms possess some degree of wage-setting power, which can lead to adverse outcomes for workers. The implications of monopsony ...

We begin by examining the fundamentals of monopsonistic wage determination. The core of the theory is a mapping from the distribution of worker outside options to wages. We study non-parametric shape ...

The use of plant-level technology data is key to rejecting other potential hypotheses, such as increasing market power and monopsony power, and our conclusion would be qualitatively different without ...