productivity differences across employers the roles of employer size age and human capital recent research using longitudinal microeconomic databases on businesses and individuals has uncovered tremendous heterogeneity across businesses even within narrowly defined industrial sectors we observe large differences in the levels and growth rates of inputs outputs and productivity across workers even controlling for demographic characteristics wage and employment outcomes vary a great deal and there are sizable worker flows across jobs in the economy these worker flows are closely connected to firm outcomes reflecting in large part the ongoing shift in resources from less productive to more productive employers the primary message is that the continual process of matching and sorting as businesses and workers seek their niches is heterogeneous with experimentation learning and selection all playing important roles understanding the connection between the matching and sorting of businesses and workers is at the very heart of the overlap between industrial organization and labor economics however due to the paucity of data linking businesses and workers at the micro level we know relatively little about these interactions although a large empirical literature suggests that worker outcomes are associated with firm characteristics notable examples are firm size wage effects compensating wage differentials and interindustry wage differentials very little is known about the converse the process by which business outcomes are associated with the characteristics of their employees there are a number of questions associated with this process do employers choose different modes of production resulting in skill segregation as suggested by the sorting and assignment hypotheses in michael kremer 1993 and michael sattinger 1993 or do all firms in a given industry select roughly the same workforce composition how do employers change their workforce composition either to accommodate demand shocks or to experiment with new modes of production in turn what is the connection between these different decisions regarding workforce composition and observable business outcomes such as survival growth and productivity in this short paper our empirical objectives are relatively modest compared to these broad research questions our focus is to provide an initial investigation into the connection between a key measure of firm performance labor productivity and the composition of the firm s workforce as measured by observable worker characteristics we exploit longitudinal matched employeremployee micro data developed under a recent pilot project at the u s census bureau our data set contains longitudinal information on key outcomes of the businesses as well as many of the basic demographic characteristics for the universe of workers at these businesses although longitudinal matched employer employee micro data have been developed in a variety of countries over the last decade or so see john abowd and francis kramarz 1999 ours is the first large scale micro level data set in the united states that allows the investigation haltiwanger department of economics university of maryland college park md 20742 u s bureau of the census and nber lane department of economics american university washington dc 20016 and u s bureau of the census spletzer bureau of labor statistics 2 massachusetts ave n e washington dc 20212 we thank adela luque and javier miranda for superb research assistance and charles brown and marilyn manser for comments on an earlier draft this research was conducted at the center for economic studies at the u s bureau of the census while the second author was an american statistical association census bureau fellow the analysis and results are attributable to the authors and do not necessarily reflect concurrence of the institutions they represent

non monotonic effects of market concentration on prices for residential solar photovoltaics in the united states abstract emerging renewable energy markets may become more concentrated over time as the most efficient firms accumulate market share the effects of this market concentration on prices are tested using a rich dataset of residential solar photovoltaic pv systems in the united states a novel hypothesis is explored that the effects of market concentration may be non monotonic prices may decline in market concentration due to efficiency gains associated with returns to scale but increase in concentration in already concentrated markets due to increasing market power the results of an econometric model provide evidence to support the non monotonic hypothesis however the data suggest that the relationship between prices and firm scale is nuanced and that both large and small scale pv installers may wield efficiency advantages

market structure and price cost margins in philippine manufacturing industries we test the hypothesis that variations in industry price cost margins pcm performance are explained by sellers various structure and conduct variables such as sellers concentration i e hhi for value added capital output ratio barrier to entry industry demand growth rate import penetration export share and degree of foreign participation multinational in four digit philippines standard industrial classification manufacturing industries the statistical analyses are a series of multiple regression equations relating the pcm to the previously mentioned explanatory variables estimation results show a generally positive relationship between sellers concentration capital intensity degree of foreign participation and the pcm industry growth rate may either increase or reduce pcm imports and exports lower pcm

special interest group perspective before and after the clayton and federal trade commission acts the performance of prices and output is explored for the period 1904 1925 the 11 years before and after passage of the clayton and federal trade commission acts hereinafter clayton ftc acts in the usa in 1914 and compared with performance for 1890 1901 the 11 year period prior to and following the passage of the sherman act while proponents of the sherman act and the clayton ftc acts claim that they serve the public interest the empirical results suggests that they appear as susceptible to the influence of special interest groups as any other public policy

an alternative approach to market structure and the markup ratio hall s studies of market power emphasize that the markup ratio of price over marginal cost is an important indicator for assessing the role of market structure in resource allocation without using concentration ratios and is also a good measure of allocative efficiency the basic idea was that price is equal to marginal cost if there is perfect competition and constant markup ratio a statistrical model was developed to estimate the markup ratio if the markup ratio estimated for an industry is unitary then the null hypothesis of competition is not rejected if however it is greater than one the alternative hypothesis of non competition is not rejected the theory mandates that monopoly power is dynamically constant despite a nonconstant productivity residual hall assumes in etimation that technical progress or solow residual has a randomness this assumption implies that the procyclicity of technical progress is not a true phenomenon the spurious procyclicity is revealed in the estimated mark

the consequences of minimum wage laws some new theoretical ideas economists generally agree that the effect of a binding minimum wage law is to move firms backward along the demand curve for low skill workers however this prediction of worker displacement depends critically on the assumption that the productivity of firms labor is not dependent on the wage in this paper we show that in a conventional efficiency wage model a minimum wage may increase the level of employment in low wage jobs the formal logic of our model is similar to the case of labor demand under monopsony but arises in a model with a large number of employers

collusion analysis of the alabama liquid asphalt market the alabama liquid asphalt market in the usa is examined over the period 1961 1978 for evidence of activity consistent with collusion some 14 conditional collusion facilitating factors that could influence a market s tendency towards collusion not all equally important or necessarily in agreement with every other factor were considered while some of these factors are controversial and can help or harm a collusion the net balance of factors and all of the important factors and evidence pointed towards being consistent with a conspiracy while not examined as extensively it was also found that the circumstantial evidence in the market was also consistent with collusion this article suggests a procedural methodology for initiation and resolution of suspected collusion for determining appropriate damages while the precise law and damages allowed will be country specific the general methodology should have wide application in many countries whose laws attempt to foster and preserve competition and pun

social behaviour as a basis for modelling the urban housing market a review this paper considers how empirical models of urban housing markets might be constructed as a basis for policy analysis it is suggested that this is fundamentally more difficult than national or re

housing wealth and consumption growth evidence from a large panel of households this article uses a large panel dataset that tracks the housing wealth and credit card spending of 12 793 individuals in hong kong to study the relationship between housing wealth and household consumption i identify a significant effect of housing wealth on consumption a pure wealth effect can explain part of the sensitivity households with multiple houses have much stronger consumption responses consistent with a relaxation of the credit constraints mortgage refinancing significantly increases households consumption sensitivities however for the majority of the households that do not refinance consumption sensitivity appears to be due to a reduction in precautionary saving jel e21 g21

linking migration and mobility individual and contextual effects in housing markets in the uk clark w a v and huang y 2004 linking migration and mobility individual and contextual effects in housing markets in the uk regional studies38 617 628 most migration work continues to separate long and short distance moves and their outcomes but clearly they are part of a complex process of relocation across different scales while we know that long distance moves are largely driven by labour market differences and moves at the local scale are the way in which households translate those long distance moves into residential satisfaction in local housing markets we know very little about the link between the two processes and their likelihoods some studies have suggested that long distance moves are followed by local adjustment moves at an early point after the relocation this paper evaluates those empirical findings in the context of the british housing market it takes up a number of previously unexamined issues related to these linkages and to the timing of the links between the two moves

effects of the minimum wage on the employment status of youths an update the large decline in the relative value of the minimum wage during the 1980s makes that period a valuable one for identifying the impact of variation in the minimum wage on youth employment this study produces the robust finding that when the experience of the 1980s is included a 10 percent increase in the minimum wage is estimated to reduce teen employment by less than 1 percent the lower end of the range of previous estimates because this small employment effect is offset by a labor force withdrawal effect the study finds no discernible effect on measured unemployment the study also finds no apparent effect of the minimum wage on the employment of young adults aged 20 24

estimating a market equilibrium search model from panel data on individuals from albrecht and axell 1984 and is based on workers who are homogeneous in terms of market productivity and heterogeneous in terms of nonmarket productivity and on firms which are heterogeneous in terms of productive efficiency the equilibrium model is contrasted in terms of its fit to the data with an unrestricted version of the model which is based on a mixture of negative binomial distributions the equilibrium model fails to conform to the data in exactly the dimension of its major focus namely it implies that measurement error accounts for almost all of the dispersion in observed wages the equilibrium model also does not do well in fitting the unemployment duration distribution compared to the unrestricted model the problem is that the duration distribution itself does not support the existence of significant heterogeneity as evidenced by the estimates of the unrestricted model the paper also illustrates the use of such models for policy analysis by simulating the welfare effects of a minimum wage

the real estate cycle and the economy consequences of the massachusetts boom of 1984 87 the economy of massachusetts is in a deep recession what makes the downturn all the more painful is that it comes on the heels of a period of unprecedented prosperity what happened how could a state go from having the lowest unemployment rate in the us to having the second highest in the space of less than 4 years some claim that the current recession is a natural and inevitable downturn after a prolonged expansion and that the region will soon return to a reasonable growth path others claim that the state is likely to experience a prolonged period of decline the thesis of this article is that the dramatic real estate cycle which began with a housing price boom between 1984 and 1987 was an important element that not only contributed to but also very significantly amplified the economic fortunes and misfortunes of the commonwealth and the region

industrial concentration and price cost margin of the indonesian food and beverages sector this article investigates trends in industrial concentration and its relationship with the price cost margin in 54 subsectors of the indonesian food and beverages sector in the period 1995 to 2006 this study uses firm level survey data provided by the indonesian bureau of central statistics bps classified at the five digit international standard industrial classification isic level the results show a significant increase in industrial concentration in 1995 to 1999 which coincided with the period of the economic crisis in indonesia after 1999 the industrial concentration exhibits a slightly decreasing long term trend furthermore the industrial concentration for all subsectors tends to converge to the same value in the long run additionally results show that higher industrial concentration yields a higher price cost margin finally the introduction of the competition law in 1999 has slightly lowered industrial concentration and the price cost margin

sex discrimination and competition in product and labour markets theoritical explanations for wage discrimination collapse in the long run because competition should drive discriminations firms out of the market in product markets with imperfect competition em

the impact of the minimum wage on other wages in this paper i explore how changes in the minimum wage affect various occupational wages i postulate that other wages increase for two reasons first firms try to mitigate the deterioration in a worker s relative wage which would cause him to reduce his work effort and second there is an increase in the demand for nonminimum wage workers wage adjustment patterns are examined to ascertain whether wage comparisons play a role in the adjustment process the empirical work shows a short run wage compression among white collar occupations which is consistent with the wage comparison model however large standard errors make inferences weak

market dynamics and dichotomy evidence from taiwanese manufacturing in taiwan a dichotomous market structure is closely related to the progress of economic development the purpose of the present article is to examine the market dynamics and dichotomous nature of taiwanese manufacturing a model of dynamic adjustment of industry structure is considered when both the speed of adjustment and the long run market concentration are allowed to vary across industries we use 118 four digit manufacturing industries for empirical analysis of our models spanning between 1981 and 1991 empirical findings show that both the speed of adjustment and long run industry concentration are predominantly determined by minimum efficient scale the speed of adjustment is much faster in a small open economy like taiwan compared to mature economies like the us and australia in addition the dichotomous nature of the market is supported in our findings for both periods viz 1981 1986 and 1986 1991 albeit weaker for the later period

substantive issues in the definition of localities evidence from sub group local labour market areas in the west midlands coombes m g green a e and owen d w 1988 substantive issues in the definition of localities evidence from sub group local labour market areas in the west midlands reg studies 22 303 318 local labour market areas llmas are now widely accepted as the most appropriate areal units for analyses of spatial patterns of employment and unemployment the most commonly used set of llmas in britain are the travel to work areas ttwas of the department of employment these areas are increasingly being used for locality studies that encompass not only labour and demand trends but also their social and political implications however ttwas are defined on the basis of aggregate commuting patterns which generalize substantial differences in the journey to work behaviour of different sections of the workforce this paper compares the ttwas as revised in 1984 with llmas defined using the same methodology for four sub groups of the labour force with differing skill levels in the west midlands the numb

industrial concentration and competition in malaysian manufacturing industrial concentration is the most widely studied area among various elements of market structure in the industrial organization literature this paper is a first attempt to analyse the determinants of changes in industry concentration over time in the case of malaysia using a partial adjustment model a cross sectional analysis is carried out against a sample of manufacturing industries between 1986 and 1996 domestic factors in influencing competition e g capital intensity advertising intensity and market size are found to be significant in most cases to explain the level of concentration considering variable rate of adjustment of concentration an increase in labour productivity of large firms and high entry rates are found to be significant for faster adjustment towards equilibrium level compared with other developed countries the annual rate of structural adjustment is found to be slow in the case of malaysian manufacturing

dynamic analysis on market structure of china s coal industry abstract according to industrial organization theory market structure is a crucial factor to market performance based on the var model and the data from 1994 to 2014 we revealed the dynamic response route of the market structure to these factors and the change process of contribution rate of these factors to the market structure it shows that market structure is inertial adjustment technology advance and industry policy have continuous effects on improvement of market concentration ratio market size and production scale have sustained negative effects on market concentration ratio fixed capital has barrier effect which is mainly the entry barrier effect at the beginning and then the exit barrier effect continues to play a leading role therefore the government has no need to introduce special policies to encourage merger or expansion on the capacity as enterprises would do it spontaneously it is necessary to make market access system stricter to improve exit compensation mechanism and to promote technological innovation all these policies need dynamic adjustment based on the stages of economic cycle

monopsony power in the market for nurses estimates are presented of the inverse elasticity of supply of nursing services to the individual hospital a quantity which is a natural measure of employer market power the estimates corresponding to employment changes taking place over one year are quite high in the neighborhood of 0 79 and even for changes taking place over three years are substantial in the neighborhood of 0 26 the estimates do not significantly differ for hospitals in major metropolitan areas and do not depend very sensitively on the assumed form of the oligopsony equilibrium this abstract was borrowed from another version of this item

structure conduct and performance a simultaneous equations investigation for the brazilian manufacturing industry the article investigated structure conduct performance scp relationships in the context of the brazilian manufacturing industry in 1996 for that purpose it considered a system with four equations pertaining concentration advertising r d and profitability that was estimated with simultaneous equation models in addition to the usual explanatory variables proxying barriers to entry and demand conditions the article considered organizational practices and incentive schemes variables the evidence indicated an important role for variables related to barriers to entry in affecting market structure an important and nonlinear effect of concentration on advertising a relevant impact of firm size on the propensity to exert r d effort and finally a significant positive impact of concentration on profitability and were similar to the previous evidence for developed countries additionally no important roles were detected for organizational practices and incentive schemes on the scp relationships

a framework for housing market area delineation principles and application a review is presented of the requirements of a framework for the delineation of housing market areas hmas in the context of undertaking a housing market assessment this prompts adoption of a methodology that features an iterative application of information obtained from estate agents to identify hma cores and a functional regionalisation of 2001 census interward migration flows the approach is demonstrated using data for north west england the concluding section explores some implications of the hma framework for policy and future research

wages profits and rent sharing the paper suggests a new test for rent sharing in the u s labor market using an unbalanced panel from the manufacturing sector it shows that a rise in a sector s profitability leads after some years to an increase in the long run level of wages in that sector the paper controls for workers characteristics for industry fixed effects and for unionism lester s range of wages is estimated for rent sharing reasons alone at approximately 24 per cent of the mean wage

a mnemonic for the major factors influencing the likelihood of collusion in the typical industrial organization textbook and class and in the courtroom numerous factors are identified as providing a predisposition to a cartel these factors include cost differences product differentiation number of firms technology growth of the industry elasticity frequency of sales number and size distribution of sellers and buyers discount rate type of competition vertical integration cost ratio imports sealed bidding social structure and track record future expectations recognition of interdependence announcements and exchanges of economic information multimarkets etc there are many factors to keep in mind fortunately the accumulated theoretical and empirical work on collusion suggests that we can for all practical purposes focus on the factors contained in the mnemonic word cartel the key factors are concentration additional revenue talk entry likeness

crashes in real estate prices causes and predictability large swings in real estate prices that end in devastating crashes have been witnessed by many countries in the past two decades to curtail the damage of these crashes it is imperative that we understand their causes this study proposes a model that associates market crashes with periodically collapsing speculative bubbles unlike the conventional literature the identification of the bubble does not rely on assumptions about fundamentals but on some fingerprints of speculation these fingerprints theoretically may also serve as predictors of market crashes in practice however a number of factors may hinder the accuracy of the prediction

performing housing markets this paper offers an interpretation of how housing markets work which complements more traditional economic approaches building on a wider movement within cultural economy and economic sociology it considers how housing markets are variously performed in the power filled negotiations of buyers sellers and market professionals this is part of a larger undertaking but here the focus is particularly on the role of legal financial and information intermediaries in shaping local cultures of property exchange this is a social rather than economic analysis of housing markets it is a qualitative rather than a quantitative study it is designed to shed light on how markets are made though it might in the end change the way they are modelled

district house price movements in england and wales 1997 2007 an exploratory spatial data analysis approach using exploratory spatial data analysis and house price data from local authority districts in england and wales this article considers whether a regional ripple effect can be tracked at the district level although spatial house price variation has been explored at a sub regional level this is possibly the first paper to attempt to track house price spillover between districts on a national basis high and low growth clusters of areas are traced it is concluded that spatial spillover of house price growth is unlikely to be based on interlocked markets bonded by commuting or migration alone information flows and expectations are likely to reinforce interdistrict transmission specifically house price spillover north of the east midlands appears much more rapid than would be consistent with a ripple suggesting that there is some support for undertaking british housing market analysis on a spatially segmented basis even at a regional level

empirical evidence on a special interest group perspective to antitrust while the antitrust laws claim to serve the public interest they are as susceptible to the influence of special interest groups as are any public policies this paper extends the empirical literature regarding the special interest theory of antitrust our additional empirical evidence addresses some of the shortcomings in previous approaches in particular we conduct a more rigorous statistical examination this paper separates two crucial issues first what happened to prices and output from 1880 to 1900 prior to and following passage of the sherman act in 1890 second what do these empirical results mean for the origin history and development of antitrust

competition and efficiency in the dutch life insurance industry the lack of available prices in the dutch life insurance industry makes competition an elusive concept that defies direct observation therefore this article investigates competition by analysing several factors which may affect the competitive nature of a market and various indirect measurement approaches after discussing various supply and demand factors which may constitute a so called tight oligopoly we establish the existence of scale economies and the importance of cost x inefficiency since severe competition would force firms to exploit available scale economies and to reduce x inefficiencies both scale economies and x inefficiencies turn out to be substantial although more or less comparable to those found for insurers in other countries and to other financial institutions further we apply the boone indicator a novel approach to measuring the effects of competition this indicator points to limited competition in comparison to other sectors in the netherlands further investigations of submarkets should reveal where policy measures in order to promote competition might be appropriate

why not cut pay abstract i interviewed over 300 business people labor leaders business consultants and counselors of unemployed people all in the northeast of the united states during the recession of the early 1990 s in order to learn why wages and salaries declined in only a few firms employers were reluctant to cut pay because they believed doing so would hurt employee morale leading to lower productivity and current or future difficulties with hiring and retention it was thought that these effects would in the end cost more than the savings from lower pay there were few indications that unemployed people had excessive wage expectations on the contrary many unemployed were too flexible and found themselves rejected by firms as overqualified in most companies pay cuts were not a useful alternative to layoffs because pay cuts would not make it worthwhile to retain many employees and because layoffs harmed morale less than would pay cuts the findings support none of the theories of wage rigidity except those of solow and akerlof that emphasize morale

firm size wage differentials in switzerland evidence from job changers using information on job changes and search behavior of workers and controlling for endogenous mobility we study firm size wage differentials in switzerland we find that the observed cross sectional firm size premium cannot be explained exclusively by worker heterogeneity almost 50 of the cross section differential is a firm size effect this abstract was borrowed from another version of this item

monopsony power and relative wages in the labor market for nurses this paper examines the thesis that monopsony power is an important determinant of wages in nursing labor markets using data from the 1985 93 current population surveys measures of relative nurse non nurse wage rates for 252 labor markets are constructed contrary to predictions from the monopsony model no positive relationship exists between relative nursing wages and hospital density or market size nor is support found for the presence of monopsony power based on evidence on union wage premiums slopes of experience profiles or the mix of rn to total hospital employment

monopsony and the lifetime relation between wages and productivity we consider the relation between wages and productivity by means of a model based on the following assumptions workers live for 2 periods firms live forever senior workers differ nontrivially from junior seniority enhances workers expected second period earnings both firms and workers recognize the prospect of promotion and the senior junior wage differential at the time of hiring and firms have monopsony power in hiring junior workers we show that senior wages are equal to the senior marginal product but junior wages are set below the junior marginal product by an amount that depends on the elasticity of the firm s labor supply

market structure and cyclical fluctuations in u s manufacturing comment r ian domowitz glenn hubbard and bruce c peterson 1988 estimate industry markups of price over marginal cost and show the influence of market structure on cyclical movements in total factor productivity using a disaggregate panel data set of 284 four digit standard industrial classification industries in this comment the authors examine whether domowitz hubbard and peterson really estimate what they intend to estimate domowitz hubbard and peterson also claim their estimates are not as large as those of hall if it is not clear what they estimate the comparison is of limited usefulness nevertheless the domowitz hubbard and peterson study deserves consideration and contemplation by anyone interested in industrial economics copyright 1993 by mit press

profitability concentration imports and exports the case of taiwan s midstream petrochemical industries based on an open economy oligopoly model causalities among domestic firms price cost margin pcm domestic concentration import and export shares are derived and a simultaneous equation system is established by utilizing the 1989 1997 data of taiwan s midstream petrochemical industries three stage least squares is used to estimate the system the empirical results confirm the derived results and demonstrate 1 there exist simultaneous relationships among domestic pcm domestic concentration import and export shares 2 import concentration affects domestic concentration positively but affects domestic pcm import and export shares negatively 3 diversifying international markets improves domestic firms pcm 4 domestic firms seem to be in a situation of collusion

the union impact on hospital wages and fringe benefits this paper uses 1977 data from a national probability sample of 1 200 hospitals to estimate the effect of unions on wages and fringe benefits in four occupations registered nurses practical nurses secretaries and housekeepers the results show that unionization has a significant impact on wages that increases with the length of time collective bargaining has been in effect at the individual hospital the overall wage effect of unions is about 8 percent for both types of nurses and 11 to 12 percent for secretaries and housekeepers employed in hospitals the authors also estimate an equation for hospital wide fringe benefits which shows that such benefits are positively related to the percent of full time employees in the four occupations covered by union contracts

the definition of housing market areas and strategic planning the purpose of this paper is to develop the concept of a housing market area thereby provide insights into our understanding of the sub regional structures of the housing system and hence propose a framework for strategic planning research in the housing market to tackle this task it is first necessary to consider the criteria for a local housing market area the paper begins by reviewing previous definitions by both academics and planners and their underlying assumptions based on the principle of spatial arbitrage a local housing market area is defined by reference to criteria linked to migration self containment parallels are drawn with the principles that have been applied to define a system of spatial labour markets using travel to work areas this spatial arbitrage definition is tested empirically by developing a system of housing market areas for west central scotland using data derived from the land registry finally the paper draws together the empirical findings to discuss the nature of s

structure conduct and performance a simultaneous equations approach a simultaneous equations framework is used to study the relationship between structure conduct and performance in us manufacturing in the 1980s and 1990s the paper expands on earlier structure conduct performance studies by using a lag structure to signify that structure conduct and performance do not affect one another contemporaneously findings support some aspects of the traditional structure conduct performance model but challenge others first the data suggest that industry structure does not depend on current industry performance second little evidence is found that industry conduct proxied by advertising is affected by industry structure third results show that industry performance does not depend on industry conduct though it is sensitive to industry structure the main findings are that 1 concentration does not depend on firm profitability though profitability depends on concentration 2 advertising follows a process that is independent of the factors considered here and 3 ad

seniority and monopsony in the academic labor market workers with high seniority usually have higher wages than workers with low seniority and the same total labor marke t experience in contrast the results of this paper indicate that higher seniority is associated with lower salaries for university professors the author documents this finding for national surveys a nd individual institutions and explains it as due to monopsonistic discrimination by employers copyright 1993 by american economic association

monopsony in the labor market this paper surveys recent theoretical and empirical research on monopsony in labor markets broadly defined as upward sloping labor supply to an employer we compare older monopsony models based on small numbers of employers with newer models based on labor market frictions such as moving costs and search we also compare older econometric approaches that focus on static wage concentration relationships with newer approaches that focus on dynamics our review of empirical estimates suggests that monopsony power based on small numbers of employers is probably rare but occasionally large while monopsony power based on frictions is probably widespread but small on average

examining the employer size wage premium in the manufacturing retail trade and service industries using employer employee matched data economists have long sought to understand why large employers pay higher wages than small employers despite decades of study and analysis researchers have been unsuccessful in fully accounting for the employersize wage premium one problem has been insufficient data most empirical efforts to examine the size related wage premium rely on worker level data that contain little information about a worker s employer or firm level data that lack information on the characteristics of a firm s workforce although more recent attempts exploit newly developed employer employee matched data kevin t reilly 1995 troske 1999 most matched data sets cover only limited segments of the population thus raising doubt about the generality of the findings in this paper we use the recently created new worker establishment characteristics database nwecd to examine the employer size wage premium unlike other matched data sets the nwecd contains information on workers and employers in all sectors and regions of the econ

an estimate of the rent generated by a premium college football player the national collegiate athletic association limits the payments athletes can receive for their services colleges are effectively monosony employers so players will not be paid their marginal revenue product therefore colleges capture an economic rent from players this paper measures these rents by estimating the marginal revenue product of a top college football player the empirical results suggest that a premium college player generates over 500 000 in annual revenues for his team

the out of sample forecasting performance of nonlinear models of regional housing prices in the us this article provides out of sample forecasts of linear and nonlinear models of us and four census subregions housing prices the forecasts include the traditional point forecasts but also include interval and density forecasts of the housing price distributions the nonlinear smooth transition autoregressive model outperforms the linear autoregressive model in point forecasts at longer horizons but the linear autoregressive and nonlinear smooth transition autoregressive models perform equally at short horizons in addition we generally do not find major differences in performance for the interval and density forecasts between the linear and nonlinear models finally in a dynamic 25 step ex ante and interval forecasting design we once again do not find major differences between the linear and nonlinear models in sum we conclude that when forecasting regional housing prices in the united states generally the additional costs associated with nonlinear forecasts outweigh the benefits for forecast

the spatial interaction of housing and labour markets commuting flow analysis of north west england the consideration of housing and labour market interaction is a relatively recent development in an academic and policy debate which has traditionally considered home and work in isolation this pa

attaching workers through in kind payments theory and evidence from russia external shocks may cause a decline in the productivity of fixed capital in certain regions of an economy exogenous obstacles to migration make it hard for workers in those regions to reallocate to more prosperous regions in addition firms may devise attachment strategies to keep workers from moving out of a local labor market when workers are compensated in kind they find it difficult to raise the cash needed for migration this endogenous obstacle to migration has not yet been considered in the literature the article shows that the feasibility of attachment depends on the inherited structure of local labor markets attachment can exist in equilibrium only if the labor market is sufficiently concentrated attachment is beneficial for both employers and employees but hurts the unemployed and the self employed an analysis of matched household firm data from the russian federation corroborates the theory

dynamic monopsony evidence from a french establishment panel this paper uses a panel of about 6000 french establishments to test some implications of the modern theory of dynamic monopsony or upward sloping labour supply curves for average firm wages panel estimates provide strong evidence of a much larger long run employer size wage effect eswe than found previously while controlling for worker quality and compensating differentials with lagged wages and for profitability rent sharing employment expansion also has a positive effect on wages providing further evidence for upward sloping labour supply as distinct from the effect of shocks in a perfectly competitive labour market

wage differentials employer size and unemployment the unique equilibrium solution to a game in which a continuum of individual employers choose permanent wage offers and a continuum of workers search by sequentially sampling from the set of offers is characterized wage dispersion is a robust outcome provided that workers search while employed as well as when unemployed the unique nondegenerate equilibrium distribution of wage offers is constructed for three cases 1 identical workers and employers 2 identical employers and an atomless distribution of worker supply prices and 3 identical workers and an atomless distribution of job productivities copyright 1998 by economics department of the university of pennsylvania and the osaka university institute of social and economic research association

tiered housing markets and their relationship to labour market areas this paper develops a tiered geography of local housing market areas hmas that provides a national framework for spatial planning it is derived from a theoretical understanding of the economic basis of hmas the analysis explores the relationships between the tiers of the hma geography and local labour market areas drawing on this understanding the empirical research generates sets of different potential geographies of hmas for england based on an algorithm that applies criteria linked to the degree of closure of migration and or commuting patterns a range of theoretically appropriate criteria then enable the different geographies to be assessed the choice of geography is guided by chow tests of statistical differences in standardised house prices in neighbouring hmas derived from hedonic regressions finally conclusions are drawn on the validity of the approach developed the empirical work is on england and datasets drawn from the census and land registry

effects of the customs union with the european union on the market structure and pricing behaviour of the turkish manufacturing industry turkey established a customs union with the european union in 1996 this study aims to analyse the effect of that customs union on the market structure and the pricing behaviour of the turkish manufacturing industry for the period 1994 to 2000 to that end the price cost mark up equation of 12 manufacturing industry sectors is estimated using the import and export ratios with european union countries together with control variables a second equation is also estimated for the concentration ratio index taking the trade ratios with european union countries as explanatory variables the estimation method is panel data covering eight years and 12 cross section units estimation outcomes indicate that the export and import ratios of trade with european union countries have a negative relation with the price cost mark up in the manufacturing sector it is concluded that increased imports with union countries have created a positive wealth and efficiency effect upon the turkish manufacturing industry due to f