04159nam 2200793 450 991079085760332120200520144314.00-691-11312-21-4008-5067-310.1515/9781400850679(CKB)2550000001163388(EBL)1538259(OCoLC)863670969(SSID)ssj0001164178(PQKBManifestationID)11655026(PQKBTitleCode)TC0001164178(PQKBWorkID)11181074(PQKB)10704306(OCoLC)864138963(MdBmJHUP)muse37208(DE-B1597)447748(OCoLC)1013938556(OCoLC)922667378(DE-B1597)9781400850679(Au-PeEL)EBL1538259(CaPaEBR)ebr10805906(CaONFJC)MIL545524(MiAaPQ)EBC1538259(EXLCZ)99255000000116338820030131h20032003 uy| 0engur|||||||nn|ntxtccrMonopsony in motion imperfect competition in labor markets /Alan ManningCourse BookPrinceton, New Jersey :Princeton University Press,[2003]©20031 online resource (414 p.)Description based upon print version of record.0-691-12328-4 1-306-14273-3 Includes bibliographical references (pages [379]-395) and index.part one. Basics -- part two. The structure of wages -- part three. Labor demand and supply -- part four. Wage-setting institutions and conclusions.What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition. Monopsony in Motion stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption. The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies. Monopsony in Motion will represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.Labor marketMathematical modelsWagesMathematical modelsLabor economicsMathematical modelsMonopsoniesMathematical modelsCompetitionMathematical modelsLabor marketUnited StatesMathematical modelsLabor marketGreat BritainMathematical modelsLabor marketMathematical models.WagesMathematical models.Labor economicsMathematical models.MonopsoniesMathematical models.CompetitionMathematical models.Labor marketMathematical models.Labor marketMathematical models.331.12Manning Alan124501MiAaPQMiAaPQMiAaPQBOOK9910790857603321Monopsony in motion1205466UNINA