Product Market Regulation and Wage Premia in Europe and North America [E-Book]: An Empirical Investigation / Sébastien Jean and Giuseppe Nicoletti
Using new cross-country data on industry-specific product market regulations, this paper investigates the relationship between wage premia and some of the policy determinants of product market rents. Hourly wage premia in 2-digit manufacturing and non-manufacturing industries are estimated from deta...
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Full text |
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Personal Name(s): | Jean, Sébastien. |
Nicoletti, Giuseppe. | |
Imprint: |
Paris :
OECD Publishing,
2002
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Physical Description: |
34 p. ; 21 x 29.7cm. |
Note: |
englisch |
DOI: |
10.1787/016668388552 |
Series Title: |
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OECD Economics Department Working Papers ;
318 |
Keywords: |
Economics |
Using new cross-country data on industry-specific product market regulations, this paper investigates the relationship between wage premia and some of the policy determinants of product market rents. Hourly wage premia in 2-digit manufacturing and non-manufacturing industries are estimated from detailed data on wage earnings in (or around) 1996 by category of worker (age, sex, education and type of contract) in 12 European and North-American countries. The effects of regulation on these wage premia are estimated by panel data regression techniques. We find that product market regulation restricting competition has a significant positive impact on wage premia in both manufacturing and non-manufacturing industries. However, in the latter industries, this effect is offset by a negative effect of legal public monopolies on wage premia. Since public ownership per se shows no relation to premia, we interpret this result as evidence of either a low-productivity trap due to x-inefficiency ... |