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ABSTRACT This paper studies the empirical relationship between the extent of monopsonistic power observed in occupational labour markets and the training opportunities available to workers in those markets; using data… Click to show full abstract
ABSTRACT This paper studies the empirical relationship between the extent of monopsonistic power observed in occupational labour markets and the training opportunities available to workers in those markets; using data from the American National Longitudinal Survey of Youth of 1979. The results reveal a positive and significant association between monopsony power and training availability. The estimated association is found to be stronger for individuals with a college degree, with longer tenure in their jobs, and higher wages. These results are consistent across several econometric specifications that control for time, occupation, and individual fixed effects.
Journal Title: Applied Economics
Year Published: 2019
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