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http://hdl.handle.net/2027.42/57993
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| Title: | Monopsonistic Competition in Formal and Informal Labor Markets |
| Authors: | To, Ted |
| Keywords: | urban labor theory, formal and informal labor markets, oligopsony/monopsonistic competition |
| Issue Date: | 12-Feb-2008 |
| Series/Report no.: | IPC Working Paper Series No. 63 |
| Abstract: | The workhorse of urban labor theory in development economicsis the formal/informal model of labor market segmentation and its
variants. The seminal Harris-Todaro model has been extended over the years to cope with various empirical puzzles not explained in the original framework. However, one issue stands out that cannot easily be explained in a competitive framework. Specifically, there is considerable evidence suggesting that many workers choose to work
in the informal sector, even though formal sector jobs are available to them and despite the fact that wages are typically higher in the formal sector. One solution is to depart from the usual competitive
framework and consider formal and informal labor markets under oligopsony/monopsonistic competition. |
| Appears in Collections: | International Policy Center (IPC) - Working Paper Series
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| Duplicated entry removed. See http://hdl.handle.net/2027.42/55747 to download this paper. |
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| Ted To.pdf | | 194Kb | Adobe PDF | file is not available |
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