Modern Models Of Monopsony In Labor Markets: A Brief Survey

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There has been a renewed interest in monopsony in labor markets in recent years that includes both the traditional static approach to monopsony, ably reviewed by Boal and Ransom (1997) and the "New'' approach to monopsony with more attention paid to dynamic issues, developed in detail by Manning (2003). The papers presented in this supplement highlight both approaches and illustrate the range of labor market settings in which the exercise of monopsony power may be important.