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• W3123368158 abstract "The paper explores the link between wage premia and the determinants of product market rents. We first estimate 2-digit industry premia from 1996 wage earnings data by category of worker (age, sex, education and type of contract) in 10 European countries, the US and Canada. Using industry-specific regulation data, we then look at the effects of restrictions to competition and public ownership on wage premia in non-manufacturing industries, where regulatory conditions vary the most and are better documented. We find that, given workers׳ bargaining power, anticompetitive regulations significantly increase wage premia, reflecting the presence of rents. However, premia decline in industries dominated by legal public monopolies, suggesting a hump-shaped relationship between regulation and premia. We show that the hump-shape is consistent with a model of non-pecuniary rent-sharing between workers and a populist public monopolist." @default.
• W3123368158 created "2021-02-01" @default.
• W3123368158 creator A5007299198 @default.
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• W3123368158 date "2015-12-01" @default.
• W3123368158 modified "2023-10-15" @default.
• W3123368158 title "Product market regulation and wage premia in Europe and North America: An empirical investigation 1 1CEPII and OECD Economics Department, respectively. The authors wish to thank Andrea Bassanini, Ekkehard Ernst, Jørgen Elmeskov, John Martin and participants to the 3rd ECB Labour Market Workshop on “How are wages determined in Europe” for their comments on previous versions of this paper. The views expressed in the paper are personal and do not engage the organisations to which the authors are …" @default.
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• W3123368158 doi "https://doi.org/10.1016/j.inteco.2015.04.005" @default.
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