Labor Market Concentration

Azar, José; Marinescu, Ioana; Steinbaum, Marshall

doi:10.3386/w24147

Cited by 109 publications

(32 citation statements)

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“…I focus here on market power in output markets. Of course, firms can also exercise market power in the markets for their inputs, including labor; for discussions, seeManning (2003),Azar, Marinescu, and Steinbaum (2017), Benmelech, Bergman, andKim (2018), andKrueger (2018).…”

mentioning

confidence: 99%

Macroeconomics and Market Power: Context, Implications, and Open Questions

Syverson

2019

Journal of Economic Perspectives

267

117

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This article assesses several aspects of recent macroeconomic market power research. These include the ways market power is defined and measured; the use of accounting data to estimate markups; the quantitative implications of theoretical connections among markups, prices, costs, scale elasticities, and profits; and conflicting evidence on whether greater market power has led to lower investment rates and a lower labor share of income. Throughout this discussion, I characterize the congruencies and incongruencies between macro evidence and micro views of market power and, when they do not perfectly overlap, explain the open questions that need to be answered to make the connection complete.

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confidence: 99%

Macroeconomics and Market Power: Context, Implications, and Open Questions

Syverson

2019

Journal of Economic Perspectives

267

117

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“…In this paper, we contribute to this growing debate by calculating measures of market concentration in local labor markets for the near-universe of 2016 online vacancy postings constructed by Burning Glass, and building on Azar, Marinescu and Steinbaum (2017). We have shown that concentration is high (above 2,500 HHI) in 54% of US labor markets according to our baseline market definition, and in at least a third of US labor markets according to alternative labor market definitions.…”

Section: Resultsmentioning

confidence: 99%

“…In this paper, we directly quantify the level of labor market concentration across nearly all occupations and for every commuting zone in the US, building on our findings in Azar, Marinescu and Steinbaum (2017). The earlier paper used data for the most frequent occupations from a large online job board (CareerBuilder.com) to show that higher concentration is associated with lower posted wages.…”

Section: Introductionmentioning

confidence: 99%

Concentration in US Labor Markets: Evidence From Online Vacancy Data

Azar¹,

Marinescu²,

Steinbaum³

et al. 2018

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Concentration in US Labor Markets: Evidence from Online Vacancy Data MARCH 2018Any opinions expressed in this paper are those of the author(s) and not those of IZA. Research published in this series may include views on policy, but IZA takes no institutional policy positions. The IZA research network is committed to the IZA Guiding Principles of Research Integrity. The IZA Institute of Labor Economics is an independent economic research institute that conducts research in labor economics and offers evidence-based policy advice on labor market issues. Supported by the Deutsche Post Foundation, IZA runs the world's largest network of economists, whose research aims to provide answers to the global labor market challenges of our time. Our key objective is to build bridges between academic research, policymakers and society. IZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. Highly concentrated markets account for 17% of employment. All plausible alternative market definitions show that more than 33% of markets are highly concentrated, suggesting that employers have market power in many US labor markets. JEL Classification:J21, J23, J42, K21, L11

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“…Hence, it has been suggested that policy-makers develop a broader list of criteria to take into account in defining the existence of labour market power. These recommendations include the following:  a (rebuttable) presumption that 'a market share of over 50% of employment (or alternatively, of posted job vacancies) in a well-defined antitrust (labour) market' may constitute evidence of market power';  '(t)he ability to lower wages below what would be charged in a competitive market';  '(t)hee ability to wage-discriminate, that is, to pay similar workers working in the same market significantly different wages';  '(t)he ability to impose disadvantageous nonwage contractual terms on workers without compensation' 165 . One may also argue for the analysis of the superior bargaining power of some employers, in view for instance of significant investments made by the workers for their education and training for the specific job, which make it quite difficult for them to switch if these costs are non-recoverable in their new job or occupation.…”

Section: Designing Competition Law For Labour Market Power Regulationmentioning

confidence: 99%

Re-thinking the competition law/labour law interaction: Promoting a fairer labour market

Lianos

Countouris

Stefano

2019

European Labour Law Journal

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The spread of non-standard forms of work, including platform work, has created some friction between labour law and competition law, in particular concerning the collective bargaining of self-employed workers. This article aims to suggest a different, complementary rather than antagonistic, relationship between competition law and labour law. It initially explores the legal construction of the antagonistic relation between labour law and competition law, which is based on the conceptualisation of the two areas of law as separate and isolated legal fields. It explains that such conceptualisation is problematic as it leads to the risk of fundamental conflicts between the two disciplines and some uncertainty as to their respective scope, with the result that the level of labour protection may suffer. This calls for breaking the dichotomy and for ensuring a continuum of protection for various forms of labour, under both labour law and competition law. It thus puts forward concrete suggestions as to the strategies to be followed in order to achieve this goal.

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Labor Market Concentration

Cited by 109 publications

References 1 publication

Macroeconomics and Market Power: Context, Implications, and Open Questions

Macroeconomics and Market Power: Context, Implications, and Open Questions

Concentration in US Labor Markets: Evidence From Online Vacancy Data

Re-thinking the competition law/labour law interaction: Promoting a fairer labour market

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