Labor Market Concentration and Wages: Incumbents versus New Hires
Labour Economics（2023）
Abstract
•We estimate the impact of labor market concentration on average wages in France•The elasticity of wages to labor market concentration ranges from -0.0244 to -0.0267•We decompose this effect between that on new hires’ and incumbents’ wages•The negative effect on incumbents accounts for between 2/3 and 3/4 of the total.•Labor market concentration also reduces the probability of being a new hire
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Key words
labor market concentration,monopsony,wages,incumbents
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