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Wage-Productivity Margins and Market Structure

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  • Stewart, Geoff

Abstract

The main aim of this paper is to suggest a model which relates wage rates to the degree monopsony power in the labour market. Labour market monopsony power has received relatively little theoretical or empirical attention, yet there are a number of reasons for believing it may be a fairly general phenomenon. Firstly, imperfect worker information on the existence and characteristics of alternative jobs will tend to impart a positive slope to the supply curve of labour facing a firm. Secondly, there are many social and institutional barriers to geographical mobility. Finally, the literature on segmented labour markets emphasises the barriers to mobility between jobs even within a region.

Suggested Citation

  • Stewart, Geoff, 1983. "Wage-Productivity Margins and Market Structure," The Warwick Economics Research Paper Series (TWERPS) 225, University of Warwick, Department of Economics.
    • Handle: RePEc:wrk:warwec:225
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    File URL: https://warwick.ac.uk/fac/soc/economics/research/workingpapers/1978-1988/twerp225.pdf
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