Micro-Evidence on Rent Sharing from Different Perspectives
This article provides evidence of rent sharing from orthogonal directions by exploiting different dimensions in the same data. Taking advantage of a rich matched employer-employee dataset for France over the period 1984-2001, we consistently compare across-industry heterogeneity in rent-sharing parameters derived from three different approaches. The accounting approach and the standard labor economics approach are compatible with distinct labor bargaining settings (right-to-manage, efficient bargaining, labor hoarding) whereas the productivity approach hinges on the assumption of efficient bargaining. Across the different approaches, we evidently find differences in dispersion of the rent-sharing parameter estimates which could be attributable to differences in modeling assumptions and/or data requirements but these estimates lie within a comparable range. We interpret the latter finding as lending empirical support to efficient bargaining as the nature of the bargaining process in France over the considered period.
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References listed on IDEAS
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- L Christofides & A Oswald, 1991.
"Real Wage Determination and Rent-Sharing in Collective Bargaining Agreements,"
CEP Discussion Papers
dp0042, Centre for Economic Performance, LSE.
- Christofides, Louis N & Oswald, Andrew J, 1992. "Real Wage Determination and Rent-Sharing in Collective Bargaining Agreements," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 985-1002, August.
- Van Reenen, John, 1994.
"The Creation and Capture of Rents: Wages and Innovation in a Panel of UK Companies,"
CEPR Discussion Papers
1071, C.E.P.R. Discussion Papers.
- Van Reenen, John, 1996. "The Creation and Capture of Rents: Wages and Innovation in a Panel of U.K. Companies," The Quarterly Journal of Economics, MIT Press, vol. 111(1), pages 195-226, February.
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