New paper:
Monopsony, Markdowns,and Minimum Wages
w/E.Faia & B.Lochner
1st direct test of:
Firms exploit monopsony (wage setting) power to "mark down" wages<MRPL
=>Minimum wages restore "wage taking"=>curb markdowns
But: not in data
Weak links?
Monops model?
MD measures?
Research design?
#Econsky
