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Abstract
Some products, notably but not only platforms, increase in value for users as the number of other users increases. These interaction or network effects can result in 'product market traps' (Bursztyn et al., 2023) where people who use the product would be better off if they all stopped using it and switched to another product, but cannot because of coordination problems. A parallel but overlooked phenomenon is the labor market trap, where employees would be better off if they collectively left an employer, job, or profession, but cannot because of the difficulty of coordination. Product market and labor market traps pose a challenge to public policy because of the complexity of people's behavior in networks, but can be mitigated in some cases with relatively simple taxes and regulatory interventions.

The World Bank's Deep Integration project aims to map the content of disciplines in different areas of trade regulation in order to generate a new database on deep trade agreements. This chapter covers labor market protections (or regulations, depending on one's perspective) in trade agreements, which have gained unexpected ground in international labor regulation over the past three decades.

We develop, estimate, and test a tractable general equilibrium model of oligopsony with differentiated jobs and concentrated labor markets. We estimate key model parameters by matching new evidence on the relationship between firms' local labor market share and their employment and wage responses to state corporate tax changes. The model quantitatively replicates quasi-experimental evidence on imperfect productivity-wage pass-through and strategic wage setting of dominant employers. Relative to the efficient allocation, welfare losses from labor market power are 7.6 percent, while output is 20.9 percent lower. Lastly, declining local concentration added 4 percentage points to labor's share of income between 1977 and 2013. (JEL E25, H71, J24, J31, J42, R23)

After three decades of economic reform, China is experiencing substantial demographic changes and a steady structural transformation toward a market economy. These phenomena pose major challenges for the Chinese labor market, which are at the center of the booming academic and policy research in recent years. This volume presents fresh knowledge on labor market issues in China. It contains eight original research articles which offer insights and answers to question such as: Which are the most important challenges of the Chinese labor market? How does rural-urban migration affect occupational choice in rural China? Does urban occupational mobility differ across gender? Which is the cost of job displacement in urban labor markets? Is over-qualification affecting the hiring probability across educational groups? How does the social insurance system perform in terms of coverage of urban workers? Which are the incentive problems in the new rural pension program?