Monopsony Power in Higher Education: A Tale of Two Tracks. NBER Working Paper No. 26070

Autor/inn/en	Goolsbee, Austan; Syverson, Chad
Institution	National Bureau of Economic Research
Titel	Monopsony Power in Higher Education: A Tale of Two Tracks. NBER Working Paper No. 26070
Quelle	(2019) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Monographie
DOI	10.3386/w26070
Schlagwörter	Higher Education; Labor Market; College Faculty; Nontenured Faculty; Power Structure; Labor Supply; Public Colleges; Private Colleges; School Size; Institutional Characteristics; Gender Differences + Suchen Sie Ihr Suchwort? Hochschulbildung; Hochschulsystem; Hochschulwesen; Labour market; Arbeitsmarkt; Fakultät; Labour Supply; Arbeitskräfteangebot; Privathochschule; Geschlechterkonflikt
Abstract	This paper tests for and measures monopsony power in the U.S. higher education labor market. It does so by directly estimating the residual labor supply curves facing individual four-year colleges and universities using school-specific labor demand instruments. The results indicate that schools have significant monopsony power over their tenure track faculty. Its magnitude is monotonic in rank, being greatest over full professors and smaller for associate and assistant professors. For non-tenure track faculty, however, universities do not seem to have any monopsony power and instead face perfectly elastic residual labor supply curves. Universities' market power over tenure track faculty does not differ between public and private schools nor between female and male faculty. Monopsony power is greater for larger universities, and the geographic market for faculty seems to be national rather than local. Monopsony power is also larger at higher-status institutions as measured by Carnegie classifications, average test scores of the undergraduate student body, or initial salary rankings. The results also suggest that monopsony power has contributed to the trend toward non-tenure track faculty in U.S. [The Initiative on Global Markets at the University of Chicago's Booth School provided financial assistance.] (As Provided).
Anmerkungen	National Bureau of Economic Research. 1050 Massachusetts Avenue, Cambridge, MA 02138-5398. Tel: 617-588-0343; Web site: http://www.nber.org
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01