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SUMMARY:Baris Kaymak (Federal Reserve Bank of Cleveland)
DTSTART;TZID=Europe/Berlin:20251105T120000
DTEND;TZID=Europe/Berlin:20251105T131500
DTSTAMP:20260514T173804Z
UID:1ecc5885bc284617aedd4f7c68b72497@www.econ.uni-bonn.de
CREATED:20250820T083325Z
DESCRIPTION:We provide a number of insights into the nature and consequenc
 es of monopsony power through the lens of comparative advantage\, where em
 ployers' power in wage setting stems from match-specific rents. Chief amon
 g them is that employers will apply larger wage markdowns to workers with 
 greater comparative advantage at their firm. This leads to stronger monops
 ony power over more productive workers\, provided the workers' comparative
  advantage aligns with their absolute advantage. Using Brazilian administr
 ative data\, we confirm this prediction: monopsony disproportionately affe
 cts high-wage workers within firms and workers at high-paying firms. The m
 odel\, calibrated to our estimates for Brazil\, predicts that minimum wage
 s increase both wages and formal employment for more productive workers wh
 ile pushing less productive workers out of formal employment.
LAST-MODIFIED:20251027T083050Z
URL:https://www.econ.uni-bonn.de/macro/en/seminars/mef-seminar-winter-25-2
 6/baris-kaymak
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