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

Labor markets are not perfectly competitive: Monopsony power enables employers to pay
workers less than the marginal revenue product of labor. We review three theoretical …

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 …

Using data on the near-universe of US online job vacancies collected by Burning Glass
Technologies in 2016, we calculate labor market concentration using the Herfindahl …

This article considers the recent literature on firm markups in light of both new and classic
work in the field of industrial organization. We detail the shortcomings of papers that rely on …

We test whether wage growth slows following employer consolidation by examining hospital
mergers. We find evidence of reduced wage growth in cases where both (i) the increase in …

We propose a general equilibrium economy with oligopolistic output markets in which two
channels can cause a change in market power:(i) technology, via changes to productivity …

This chapter overviews productivity research from an industrial organization perspective. We
focus on what is known and what still needs to be learned about the productivity levels and …

This paper develops a method to estimate workers' outside employment opportunities. We
outline a matching model with two-sided heterogeneity, from which we derive a sufficient …