RFBerlin Podcast Series
Welcome to the RFBerlin Podcast Series, presented by the ROCKWOOL Foundation Berlin, dedicated to disseminating cutting-edge research on the economy and labour market to the academic community and beyond.
We invite leading economists to discuss the key challenges the labour market and its workers are facing. Hear what they think about recent economic trends; the impact of new technologies, outsourcing, or migration; and what governments can do to mitigate turbulences. The podcast brings you up to date with the latest empirical research without asking you to move, do math or touch data, but by meeting you where you are.
RFBerlin Podcast Series
5. Handbook Talk with Patrick Kline: What are the consequences of monopsony for the labour market?
In this podcast episode dedicated to the new edition of the Handbook of Labor Economics, Tim Phillips speaks with Patrick Kline, Professor of Economics at UC Berkeley, about monopsony in the labor market.
Unlike monopoly, where a single supplier dominates, monopsony occurs when a single buyer—in this case, an employer—has significant power to set wages.
Prof. Kline discusses recent research on the prevalence of monopsony and the role of policy and regulation in addressing monopsony power. He emphasizes the need for rigorous understanding and innovative policy solutions to tackle this issue effectively.
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