Estimates are presented of the inverse elasticity of supply of nursing
services to the individual hospital, a quantity which is a natural measure of
employer market power. The estimates corresponding to employment changes
taking place over one year are quite high (in the neighborhood of 0.79) and
even for changes taking place over three years are substantial (in the
neighborhood of 0.26). The estimates do not significantly differ for hospitals
in major metropolitan areas and do not depend very sensitively on the assumed
form of the oligopsony equilibrium.
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