Holdup in oligopsonistic labour markets - a new role for the minimum wage

Kaas, Leo; Madden, Paul

Holdup in oligopsonistic labour markets - a new role for the minimum wage

Dateien

05.pdfGröße: 148.58 KBDownloads: 289

Datum

2008

Autor:innen

Kaas, Leo

Madden, Paul

Open Access-Veröffentlichung

Open Access Green

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Zeitschriftenartikel

Publikationsstatus

Published

Erschienen in

Labour Economics. 2008, 15(3), pp. 334-349. ISSN 0927-5371. eISSN 1879-1034. Available under: doi: 10.1016/j.labeco.2007.06.011

Zusammenfassung

We consider a labour market model of oligopsonistic wage competition and show that there is a holdup problem although workers do not have any bargaining power. When a firm invests more, it pays a higher wage in order to attract workers from competitors. Because workers participate in the returns on investment while only firms bear the costs, investment is inefficiently low. A binding minimum wage can achieve the first-best level of investment, both in the short run for a given number of firms and in the long run when the number of firms is endogenous.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

Holdup, Investment, Minimum wage

Zitieren

ISO 690

KAAS, Leo, Paul MADDEN, 2008. Holdup in oligopsonistic labour markets - a new role for the minimum wage. In: Labour Economics. 2008, 15(3), pp. 334-349. ISSN 0927-5371. eISSN 1879-1034. Available under: doi: 10.1016/j.labeco.2007.06.011

BibTex

@article{Kaas2008Holdu-11992,
  year={2008},
  doi={10.1016/j.labeco.2007.06.011},
  title={Holdup in oligopsonistic labour markets - a new role for the minimum wage},
  number={3},
  volume={15},
  issn={0927-5371},
  journal={Labour Economics},
  pages={334--349},
  author={Kaas, Leo and Madden, Paul}
}

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