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Product Market Regulation and Wage Premia in Europe and North America: An Empirical Investigation

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Author Info
Sébastien Jean
Giuseppe Nicoletti ()

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Abstract

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 ...

Régulation des marchés des biens et rentes salariales en Europe et en Amérique du nord : Une analyse empirique

Cette étude utilise une nouvelle base de données internationale concernant les régulations sectorielles pour explorer le lien entre les primes salariales et quelques unes des politiques qui affectent les rentes dans les marchés des produits. Les primes salariales horaires dans plusieurs industries manufacturières et non manufacturières sont estimées à partir de données détaillées sur les salaires par catégories de travailleurs (âge, sexe, éducation et type de contrat) dans 12 pays Européen et de l’Amérique du Nord en (ou aux environs de) 1996. Les effets des régulations sur ces primes salariales sont ensuite estimées en utilisant des méthodes économétriques de panel. Nous trouvons que les régulations qui réduisent la concurrence ont un impact positif et significatif sur les primes salariales dans les industries manufacturières et non manufacturières. Dans ces dernières, toutefois, cet effet est partiellement compensé par un effet négatif et significatif des monopoles publics légaux ...

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Paper provided by OECD Economics Department in its series OECD Economics Department Working Papers with number 318.

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Date of creation: 22 Jan 2002
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Handle: RePEc:oec:ecoaaa:318-en

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Related research
Keywords: competition wage premia panel data données de panel regulation concurrence rent sharing régulation rentes salariales partage des rentes

Find related papers by JEL classification:
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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  5. Kox, Henk L.M. & Nordås, Hildegunn Kyvik, 2007. "Services trade and domestic regulation," MPRA Paper 2116, University Library of Munich, Germany. [Downloadable!]
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  8. Yu-Fu Chen & Michael Funke, 2005. "Product Market Competition, Investment and Employment-Abundant versus Job-Poor Growth: A Real Options Perspective," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
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  9. Kari E.O. Alho, 2006. "Structural Reforms in the EU and Political Myopia in Economic Policies," Discussion Papers 1050, The Research Institute of the Finnish Economy. [Downloadable!]
  10. Helge Sanner, 2006. "Imperfect goods and labor markets, and the union wage gap," Journal of Population Economics, Springer, vol. 19(1), pages 119-136, February. [Downloadable!] (restricted)
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  11. Andersen, Torben M & Sorensen, Allan, 2005. "Product Market Integration, Wages and Inequality," CEPR Discussion Papers 4963, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  12. Irina Tytell & Florence Jaumotte, 2008. "How has the Globalization of Labor Affected the Labor Income Share in Advanced Countries?," IMF Working Papers 07/298, International Monetary Fund. [Downloadable!]
  13. Monique Ebell & Christian Haefke, 2002. "Product Market Deregulation and Labor Market Outcomes," Working Papers 02.08, Swiss National Bank, Study Center Gerzensee. [Downloadable!]
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  14. Olivier Blanchard, 2004. "The Economic Future of Europe," NBER Working Papers 10310, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  15. Andersen, Torben M & Sorensen, Allan, 2003. "International Product Market Integration, Rents and Wage Formation," CEPR Discussion Papers 3995, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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