Imperfect Goods and Labor Markets, Regulation, and Spillover Effects
(De)regulatory interventions frequently have unintended cross- market effects, which may or may not be desirable. We assess the effects of three policies on aggregate variables, in particular real income, from a theoretical perspective. Our results suggest that instruments acting upon wages have only a weak impact on real income, whereas the distribution of income is affected strongly. In contrast, a policy that enhances product market competition is fostering real income, but also impacts strongly on union wages and the distribution of income.
|Date of creation:||2003|
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Web page: http://www.uni-potsdam.de/fakultaeten/wiso.html
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- Sébastien Jean & Giuseppe Nicoletti, 2015.
"Product market regulation and wage premia in Europe and North America: An empirical investigation,"
CEPII research center, issue 144, pages 1-28.
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187, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
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- Giuseppe Nicoletti & Andrea Bassanini & Ekkehard Ernst & Sébastien Jean & Paulo Santiago & Paul Swaim, 2001. "Product and Labour Markets Interactions in OECD Countries," OECD Economics Department Working Papers 312, OECD Publishing.
- Werner Antweiler & Daniel Trefler, 2002.
"Increasing Returns and All That: A View from Trade,"
American Economic Review,
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- John H. Pencavel, 2004.
"The Surprising Retreat of Union Britain,"
in: Seeking a Premier Economy: The Economic Effects of British Economic Reforms, 1980-2000, pages 181-232
National Bureau of Economic Research, Inc.
- Boeri, Tito & Nicoletti, Giuseppe & Scarpetta, Stefano, 2000.
"Regulation And Labour Market Performance,"
CEPR Discussion Papers
2420, C.E.P.R. Discussion Papers.
- Nickell, Stephen, 1999. "Product markets and labour markets1," Labour Economics, Elsevier, vol. 6(1), pages 1-20, March.
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