TY  - RPRT
        AU  - Azar, José
AU  - Marinescu, Ioana E.
AU  - Steinbaum, Marshall
        TI  - Labor Market Concentration
        PY  - 2017/Dec/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 11254
        UR  - https://www.iza.org/index.php/publications/dp11254
        AB  - 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.
        KW  - labor markets
KW  - oligopsony
KW  - monopsony
KW  - competition policy
        ER  -