Monopsony in the UK

Will Abel, Silvana Tenreyro and Gregory Thwaites

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: We study the evolution and effects of monopsony power in the UK private sector labour market from 1998 to 2017. Using linked employee-firm micro-data, we find that: (1) Measures of monopsony have been relatively stable across the time period examined - rising prior to the crisis, before subsequently falling again. (2) There is substantial cross-sectional variation in monopsony at the industry level. (3) Higher levels of labour market concentration are associated with lower pay amongst workers not covered by a collective bargaining agreement. (4) For workers covered by a collective bargaining agreement, the association between labour market concentration and pay is greatly reduced and in most cases disappears. (5) The link between productivity and wage levels is weaker when labour markets are more concentrated.

JEL-codes: J0 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2018-10-10
New Economics Papers: this item is included in nep-com and nep-eec
References: Add references at CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://eprints.lse.ac.uk/90871/ Open access version. (application/pdf)

Related works:
Working Paper: Monopsony in the UK (2018)
Working Paper: Monopsony in the UK (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:90871

Access Statistics for this paper

More papers in LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library LSE Library Portugal Street London, WC2A 2HD, U.K.. Contact information at EDIRC.
Bibliographic data for series maintained by LSERO Manager ().