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UID:63395585ee1ce8a3a74ad275025be42b
CATEGORIES:Seminars
CREATED:20260430T072824
SUMMARY:Kai-Jie Wu - Penn State University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p><a href="images/Wu.pdf"><strong>Robinson Meets Roy: Monopsony Power and 
 Comparative Advantage</strong></a></p><p>Abstract:</p><p style="text-align:
  justify;">We provide a number of insights into the nature and consequences
  of monopsony powerthroughthelensofcomparativeadvantage, whereemployers’pow
 erinwage setting stems from match-specific rents. Chief among them is that 
 employers will apply larger wage markdowns to workers with greater comparat
 ive advantage at their firm. This leads to stronger monopsony power over mo
 re productive workers, provided the workers’ comparative advantage aligns w
 ith their absolute advantage. UsingBrazilian administrative data, weconfirm
 thisprediction: monopsonydispro portionately affects high-wage workers with
 in firms and workers at high-paying f irms. The model, calibrated to our es
 timates for Brazil, predicts that minimum wages increase both wages and for
 mal employment for more productive workers while pushing less productive wo
 rkers out of formal employment.</p>
DTSTAMP:20261022T235453Z
DTSTART:20261123T163000Z
DTEND:20261123T180000Z
SEQUENCE:0
TRANSP:OPAQUE
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