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Rent-Sharing and Workers' Bargaining Power: An Empirical Cross-Country/ Cross-Industry Panel Analysis

Author

Listed:
  • Philippe Askenazy

    () (PSE - Paris-Jourdan Sciences Economiques - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - EHESS - École des hautes études en sciences sociales - INRA - Institut National de la Recherche Agronomique - ENS Paris - École normale supérieure - Paris)

  • Gilbert Cette

    (BDF - banque de france - Banque de France, AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - Ecole Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique)

  • Paul Maarek

    () (BDF - banque de france - Banque de France)

Abstract

In this paper, we study how rents are shared between capital and labour, using industry†level panel data for 19 OECD countries from 1988 through to 2007. The first step is an explanation of the rent†creation process. We provide evidence of a significant impact of regulation on value†added prices at the industry level relative to the value†added price for the overall economy (rent). In the second step, we dissect the value†added sharing process. By running ordinary least†squares and instrumental variables estimations, we obtain results that confirm the Blanchardâ€"Giavazzi prediction: the impact of rents on the capital share depends on workers' bargaining power.

Suggested Citation

  • Philippe Askenazy & Gilbert Cette & Paul Maarek, 2018. "Rent-Sharing and Workers' Bargaining Power: An Empirical Cross-Country/ Cross-Industry Panel Analysis," Post-Print hal-01840575, HAL.
  • Handle: RePEc:hal:journl:hal-01840575
    Note: View the original document on HAL open archive server: https://hal-amu.archives-ouvertes.fr/hal-01840575
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    Cited by:

    1. Gilbert Cette & Jimmy Lopez & Jacques Mairesse, 2018. "Rent Creation and Sharing: New Measures and Impactson TFP," NBER Working Papers 24426, National Bureau of Economic Research, Inc.

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