Walras-Bowley Lecture: Market Power and Wage Inequality

We propose a theory of how market power affects wage inequality. We ask how goods and labor market power jointly determine the level of wages, the skill premium, and wage inequality. We then use detailed microdata from the U.S. Census Bureau between 1997 and 2016 to estimate the parameters of labor...

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Bibliographic Details
Published in:Econometrica 2024-05, Vol.92 (3), p.603-636
Main Authors: Deb, Shubhdeep, Eeckhout, Jan, Patel, Aseem, Warren, Lawrence
Format: Article
Language:English
Subjects:
Arbeitskräfteangebot
Auswirkung
Bildungsertrag
Censuses
Einkommenseffekt
Einkommensunterschied
endogenous markdowns
endogenous markups
Gütermarkt
Hoch Qualifizierter
Inequality
Labor market
Labor supply
Lohnpolitik
Lohntheorie
Market power
Market structure
Marktanteil
Markttheorie
Niedrig Qualifizierter
Power
skill premium
Skilled workers
technological change
Unternehmen
USA
Wage differential
wage inequality
Wages & salaries
Wettbewerb
Workers
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