Employer Consolidation and Wages: Evidence from Hospitals

被引：52

作者：

Prager, Elena ^{[1
]}

Schmitt, Matt ^{[2
]}

机构：

[1] Northwestern Univ, Kellogg Sch Management, Evanston, IL 60208 USA

[2] Univ Calif Los Angeles, Compass Lexecon & Anderson Sch Management, Los Angeles, CA 90024 USA

来源：

AMERICAN ECONOMIC REVIEW | 2021年 / 111卷 / 02期

关键词：

OWNERSHIP CHANGES; MARKET; MONOPSONY; POWER; MERGERS; IMPACT;

D O I：

10.1257/aer.20190690

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We test whether wage growth slows following employer consolidation by examining hospital mergers. We find evidence of reduced wage growth in cases where both (i) the increase in concentration induced by the merger is large and (ii) workers' skills are industry-specific. In all other cases, we fail to reject zero wage effects. We consider alternative explanations and find that the observed patterns are unlikely to be explained by merger-related changes besides labor market power. Wage growth slowdowns are attenuated in markets with strong labor unions, and wage growth does not decline after out-of-market mergers that leave local employer concentration unchanged.

引用

页码：397 / 427

页数：31

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