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Estimating the Wage Elasticity of Labour Supply to a Firm: What Evidence is there for Monopsony?

Booth, Alison; Katic, Pamela

Description

In this article, we estimate the elasticity of the labour supply to a firm, using data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey. Estimation of this elasticity is of particular interest not only in its own right but also because of its relevance to the debate about the competitiveness of labour markets. The essence of monopsonistically competitive labour markets is that labour supply to a firm is imperfectly elastic with respect to the wage rate. The intuition...[Show more]

CollectionsANU Research Publications
Date published: 2011
Type: Journal article
URI: http://hdl.handle.net/1885/68042
Source: The Economic Record
DOI: 10.1111/j.1475-4932.2011.00728.x

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