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dc.contributor.authorKaas, Leoen_US
dc.contributor.authorMadden, Paulen_US
dc.date.accessioned2006-10-06en_US
dc.date.accessioned2010-07-07T09:11:32Z-
dc.date.available2010-07-07T09:11:32Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/33401-
dc.description.abstractWe consider a labour market model of oligopsonistic wage competition and show that there is a holdup problem although workers do not have any bargaining power. When a firm invests more, it pays a higher wage in order to attract workers from competitors. Because workers participate in the returns on investment while only firms bear the costs, investment is inefficiently low. A binding minimum wage can achieve the first-best level of investment, both in the short run for a given number of firms and in the long run when the number of firms is endogenous.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 2043en_US
dc.subject.jelD43en_US
dc.subject.jelJ48en_US
dc.subject.ddc330en_US
dc.subject.keywordholdupen_US
dc.subject.keywordinvestmenten_US
dc.subject.keywordminimum wageen_US
dc.subject.stwArbeitsmarkttheorieen_US
dc.subject.stwMonopolistischer Wettbewerben_US
dc.subject.stwOligopolen_US
dc.subject.stwMindestlohnen_US
dc.subject.stwInvestitionen_US
dc.subject.stwTheorieen_US
dc.titleHoldup in oligopsonistic labour markets: a new role for the minimum wageen_US
dc.typeWorking Paperen_US
dc.identifier.ppn510105750en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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