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Rent Building, Rent Sharing A Panel Country-Industry Empirical Analysis

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  • Paul Maarek
  • Philippe Askenazy
  • Gilbert Cette

    ()
    (THEMA, Universite de Cergy-Pontoise
    Paris School of Economic-CNRS, Cepremap, IZA and Banque de France
    Banque de France and Université de la Méditerranée (DEFI))

Abstract

This paper aims to clarify the role of market regulations in rent creation and rent sharing. For each country-industry-year observation, the rent size (RS), measured by the value added price relative to the GDP price, is assumed to depend solely on direct anti-competitive regulations (ACR) on services and goods. The second step explains the rent sharing process by using the impact of our RS measure on the capital share. ACR on the good market increases rent size. RS increases the capital share but the magnitude highly depends on the bargaining power of the two alternative beneficiaries: workers and upstream industries.

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Bibliographic Info

Paper provided by THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise in its series THEMA Working Papers with number 2012-33.

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Date of creation: 2012
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Handle: RePEc:ema:worpap:2012-33

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Keywords: Rents; capital share; prices; market regulations; output gap; unemployment;

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  1. Renaud Bourlès & Gilbert Cette & Jimmy Lopez & Jacques Mairesse & Giuseppe Nicoletti, 2010. "Do Product Market Regulations In Upstream Sectors Curb Productivity Growth? Panel Data Evidence For Oecd Countries," Working Papers, HAL halshs-00504161, HAL.
  2. Spector, David, 2002. "Competiton and the capital-labor conflict," CEPREMAP Working Papers (Couverture Orange) 0207, CEPREMAP.
  3. Young, Andrew T., 2010. "One of the things we know that ain't so: Is US labor's share relatively stable?," Journal of Macroeconomics, Elsevier, Elsevier, vol. 32(1), pages 90-102, March.
  4. Nicoletti, Giuseppe & Pryor, Frederic L., 2006. "Subjective and objective measures of governmental regulations in OECD nations," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 59(3), pages 433-449, March.
  5. Paul Conway & Giuseppe Nicoletti, 2006. "Product Market Regulation in the Non-Manufacturing Sectors of OECD Countries: Measurement and Highlights," OECD Economics Department Working Papers 530, OECD Publishing.
  6. Ghazala Azmat & Alan Manning & John Van Reenen, 2007. "Privatization, entry regulation and the decline of labor's share of GDP: a cross-country analysis of the network industries," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 4552, London School of Economics and Political Science, LSE Library.
  7. Andrea Bassanini & Romain Duval, 2009. "Unemployment, institutions, and reform complementarities: re-assessing the aggregate evidence for OECD countries," Oxford Review of Economic Policy, Oxford University Press, Oxford University Press, vol. 25(1), pages 40-59, Spring.
  8. Philippe Aghion & Peter Howitt, 2009. "The Economics of Growth," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 9780262012638, December.
  9. Douglas Gollin, 2001. "Getting Income Shares Right," Department of Economics Working Papers, Department of Economics, Williams College 2001-11, Department of Economics, Williams College.
  10. Machin, Stephen & Van Reenen, John, 1993. "Profit Margins and the Business Cycle: Evidence from UK Manufacturing Firms," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 41(1), pages 29-50, March.
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