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Market Concentration and Labor Income Share: A Panel Analysis based on the Korean Manufacturing Sector (in Korean)

Author

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  • Hyein Shim

    (Gyeonggido Family & Women's Research Institute)

Abstract

The purpose of this research is to closely examine relationship between market concentration and labor income share. To assess market concentration effects on labor income share, this paper assumes imperfectly competitive markets consisting of heterogeneous firms based on theoretical models and estimates panel data models for the Korean manufacturing industries. The theoretical model suggests that an increase (a decrease) in market concentration induces a decrease (an increase) in labor income share in the imperfectly competitive product markets. The empirical analysis using the panel data also finds the relationship between the factors inversely related. It is meaningful in the sense that this study explored the role of imperfect competition in the product markets that has not been recognized as an important determinant of labor income share.

Suggested Citation

  • Hyein Shim, 2014. "Market Concentration and Labor Income Share: A Panel Analysis based on the Korean Manufacturing Sector (in Korean)," Economic Analysis (Quarterly), Economic Research Institute, Bank of Korea, vol. 20(3), pages 111-150, September.
    • Handle: RePEc:bok:journl:v:20:y:2014:i:3:p:111-150
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    Citations

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    Cited by:

    1. Shim Hyein & Chung Chune Young & Ryu Doojin, 2018. "Labor income share and imperfectly competitive product market," The B.E. Journal of Macroeconomics, De Gruyter, vol. 18(1), pages 1-16, January.

    More about this item

    Keywords

    Income distribution; Labor income share; Imperfect competition; Market concentration;
    All these keywords.

    JEL classification:

    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution

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