A #monopsony like #nvidia had on #HBM4.
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Hashtag
#monopsony
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RE:
3 billion dollars down the drain.
get rid of billionaires and break up companies worth the GDP of small countries.
#monopsony #capitalism #fascism #tech #microsoft
#democracy #usa #gop #fascists
👉 Vote 'em Out!
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Listen to our conversation on competition and #monopsony in the labor market, and the #antitrust policy implications. I had a lot of fun talking to David Fisher from AAI, like we had to cut out some of the laughing 🤭. I hope you enjoy it as much as we did!
www.antitrustinstitute.org/work-product...
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Inkoopmacht speelt mensen tegen elkaar uit. #monopsony
De mededingingsautoriteit zou meer aandacht moeten hebben voor de belangen van kleine bedrijven door monopsony te beteugelen.
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If you could play this on loop all weekend and ask your class to do so, I may get 1p in royalties from Spotify, which I will have to share ! #monopsony open.spotify.com/album/58kzDu...
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Turns out employers have been accumulating #monopsony powers that impact #minimumwage, #immigration, #antitrust and much more, argues @alanmanning4.bsky.social
@cep-lse.bsky.social. Read this interesting article to find out how.
doi.org/10.1177/0019...
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Today I learned a useful new word:
#monopsony (n): the market condition that exists when there is only one buyer
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have a direct positive effect on labor share, mitigating labor markdowns, high markups enable firms to exert substantial #monopsony power, diminishing the labor share.
The analysis reveals significant cross-country #heterogeneity in the effects of markups and markdowns on the labor … 5/6
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Labor share and market power in European firms d.repec.org/n
"firms’ product and labor market power, as reflected in product markups and labor markdowns, enable firms to capture a larger share of economic output at the expense of workers.
… empirical […]
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#Economy #Walmart #Monopsony #Employment #Poverty
"Just as monopoly describes a company that can afford to charge exorbitant prices because it lacks any real competition, monopsony describes a company that can afford to pay low wages because workers have so few alternatives."
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www.theatlantic.com/ideas/archive/2024/12/wa... “Walmart makes the places it operates in poorer than they would be if it had never shown up at all” #economics #monopsony #poverty #localfood #walmart
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Fun vocabulary word: #monopsony. A #monopoly is when people have only one (or few) place(s) to buy a thing. A monopsony is when there’s only one (or few) places to sell a thing. Insurance companies are both: monopolies for patients and monopsonies for doctors.
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Excellent study on #monopsony and obstacles on labour mobility from @wzwysen.bsky.social !
While this topic is a niche one, there is a huge potential for economic growth if the use of #noncompetes would be banned or limited.
The US already took steps to ban the NCCs - will the EU follow?
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We define #monopsony power as the markdown and derive it in various models. 📉 Empirically, wages could rise by 15-50% if firms' monopsony power were eliminated. (Working paper version: papers.ssrn.com/sol3/papers....)
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Check out this conversation on what we mean by “model explains the data”, #EconSky. Obviously had to bring up #monopsony models 😉
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Cournot model of competition to understand wages under #monopsony power. See the literature review we just wrote with Jose Azar, forthcoming in the Handbook of Labor Economics. Draft here: www.rfberlin.com/research/mon...
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#Amazon worker #protests worldwide spotlight a crucial issue: as #employment concentrates in a few corporations, #monopsony effects risk distorting #LaborMarket dynamics—unless counterbalanced by forces like collective employee action. #FutureOfWork
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to negative employment effects in more competitive labor markets
…empirical support to the #monopsony argument, implying that conventional minimum wage effects on employment conceal #heterogeneity across market forms #EconSky
orig https://fediscience.org/@davdittrich/113528741075426117 2/2
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Here’s a search-theoretical model with #monopsony where you can have “excessive” employment (relative to welfare-maximizing) and wages that are too low: www.aeaweb.org/articles?id=...
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How is cost-benefit analysis impacted by #monopsony power? If wages are less than marginal productivity, what is the economic cost of the government employing workers?
Thread. #EconSky
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Scarce Workers, High Wages? https://arxiv.org/pdf/2408.04508
"… #LaborMarkets tightness has a significant but modest impact on #wages
…find large elasticities for newly hired workers, high-skilled workers, the Eastern German labor market, and the service sector
… #monopsony power is … 1/2
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The fall and rebound of average establishment size in West Germany http://d.repec.org/n?u=RePEc:zbw:bubdps:287762&r=lma
"There is a positive association between aggregate productivity and the average establishment size.
…results imply that #monopsony power incentivizes incumbent … 1/2
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Acquihiring for Monopsony Power d.repec.org/n
"… the goal of such acquihires might be to shut down the most relevant labor market competitor. This grants the acquirer #monopsony power over specialized talent. As a consequence, acquihiring … 1/2
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This year, I'm thankful that I was able to estimate a big increase in the quit elasticity* for low-wage workers. Wasn't sure I'd see it in lifetime...#monopsony #GreatReshuffle #GreatResignation
*sensitivity of quits to low pay, a key measure of labor market competition
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A #monopsony is when a firm is the sole purchaser of a good or service whereas a #monopoly is when one firm is the sole producer of a good or service. GMC here to help with all your publishing merger vocab issues 😊. https://bit.ly/3TpI8gC
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Very useful discussion of the topic of #monopsony from the @USTreasury, including review of sources of labor market power and recent literature.
home.treasury.gov/system/files/136/State-o...
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