%0 Report
        %A Azar, José
%A Marinescu, Ioana E.
%A Steinbaum, Marshall
        %T Labor Market Concentration
        %D 2017
        %8 2017 Dec
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 11254
        %U https://www.iza.org/index.php/publications/dp11254
        %X A product market is concentrated when a few firms dominate the market. Similarly, a labor market is concentrated when a few firms dominate hiring in the market. Using data from the leading employment website CareerBuilder.com, we calculate labor market concentration for over 8,000 geographic-occupational labor markets in the US. Based on the DOJ-FTC horizontal merger guidelines, the average market is highly concentrated. Using a panel IV regression, we show that going from the 25th percentile to the 75th percentile in concentration is associated with a 17% decline in posted wages, suggesting that concentration increases labor market power.
        %K labor markets
%K oligopsony
%K monopsony
%K competition policy