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Autor:innen: 
Erscheinungsjahr: 
2017
Quellenangabe: 
[Journal:] IZA World of Labor [ISSN:] 2054-9571 [Article No.:] 355 [Publisher:] Institute for the Study of Labor (IZA) [Place:] Bonn [Year:] 2017
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
Traditional models of the labor market typically assume that wages are set by the market, not the firm. However, over the last 15 years, a growing body of empirical research has provided evidence against this assumption. Recent studies suggest that a monopsonistic model, where individual firms and not the market set wages, may be more appropriate. This model attributes more wage-setting power to firms, particularly during economic downturns, which helps explain why wages decrease during recessions. This holds important implications for policymakers attempting to combat lost worker income during economic downturns.
Schlagwörter: 
monopsony
wages
business cycles
JEL: 
E2
E3
E6
J3
J42
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
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