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Regulation and Labor Earnings

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  • Wallace Hendricks

Abstract

This paper investigates the contention that workers in regulated industries receive economic rents as a consequence of the regulation. We argue that increases in wage levels due to entry regulation may be offset by employment stability guaranteed by this regulation and by increased reluctance of management to grant increases due to the type of profit regulation imposed. An empirical analysis compares earnings in seven occupations in fourteen regulated industries with earnings in other manufacturing industries. Earnings in the electric utility industry are also analyzed. Both studies are supportive of our argument.

Suggested Citation

  • Wallace Hendricks, 1977. "Regulation and Labor Earnings," Bell Journal of Economics, The RAND Corporation, vol. 8(2), pages 483-496, Autumn.
  • Handle: RePEc:rje:bellje:v:8:y:1977:i:autumn:p:483-496
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    Cited by:

    1. Hadlock, Charles J & Lee, D Scott & Parrino, Robert, 2002. "Chief Executive Officer Careers in Regulated Environments: Evidence from Electric and Gas Utilities," Journal of Law and Economics, University of Chicago Press, vol. 45(2), pages 535-563, October.
    2. Natália Pimenta Monteiro, 2004. "Regulatory reform and the Portuguese banking labour market: two decades later," NIPE Working Papers 10/2004, NIPE - Universidade do Minho.
    3. David E. Davis & Wesley W. Wilson, 2003. "Wages in Rail Markets: Deregulation, Mergers, and Changing Networks Characteristics," Southern Economic Journal, Southern Economic Association, vol. 69(4), pages 865-885, April.
    4. Eijffinger, Sylvester C W & Rossi, Alberto, 2006. "Structural Reforms and Growth: Product and Labor Market Deregulations," CEPR Discussion Papers 5988, C.E.P.R. Discussion Papers.
    5. Sébastien Jean & Giuseppe Nicoletti, 2004. "Regulation and Wage Premia," Working Papers 2004-12, CEPII research center.
    6. Kevin E. Henrickson & Wesley W. Wilson, 2008. "Compensation, Unionization, and Deregulation in the Motor Carrier Industry," Journal of Law and Economics, University of Chicago Press, vol. 51(1), pages 153-177, February.
    7. Robst, John & Turcotte, Leo, 1998. "The effect of regulatory legislation on workers' earnings," Economics Letters, Elsevier, vol. 59(2), pages 255-261, May.

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