Author: Nancy L. RosePublisher:
ISBN:
Category : Wages
Languages : en
Pages : 52
Book Description
Labor Rent-sharing and Regulation
Author: Nancy L. RoseLabor Rent-Sharing and Regulation
Author: Nancy L. RosePublisher: Forgotten Books
ISBN: 9780243896875
Category : Business & Economics
Languages : en
Pages : 54
Book Description
Excerpt from Labor Rent-Sharing and Regulation: Evidence From the Trucking Industry An increasing body of evidence suggests that labor may be an important claimant to firms' profits. While there is a well-developed literature on union rent-sharing, recent empirical and theoretical work suggests that nonunion workers also may capture a share of rents. This study uses wage responses to an exogenous reduction in trucking industry rents to estimate the extent of union and nonunion rent-sharing. The results should be of interest to both labor economists interested in noncompetitive theories of wage determination and regulatory economists interested in assessing the magnitude and distribution of regulatory rents. The paper evaluates wage responses to motor carrier deregulation in the late 19705 and early 19805. The results indicate substantial declines in union premia over nonunion wages as a consequence of regulatory reforms. Union premia dropped from an average of 50 percent over nonunion wages during the 1973-78 period, to 30 percent over nonunion wages during 1979-84. Data for nonunion workers in the industry indicate wage declines relative to economy-wide average wages, although the magnitude of-nonunion rents is not precisely quantified. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Rent Creation and Sharing
Author: Gilbert CettePublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
This analysis proposes new measures of rent creation or (notional) mark-up and workers' share of rents on cross-country-industry panel data. While the usual measures of mark-up rate implicitly assume perfect labor markets, our approach relaxes this assumption, and takes into account that part of firms' rent created in an industry is shared with workers to an extent which can vary with their skills. Our results are based on a cross-country-industry panel covering 14 OECD countries and 19 industries over the 1985-2005 period. In a first part of our analysis we draw on OECD indicators of product and labor market (anticompetitive) regulations to test how they are related to our new measures of mark-up and rent-sharing. We find that anti-competitive Non-Manufacturing Regulations (NMR) affect mark-up rates positively, and hence firms' rent creation and workers' share of rent, whereas Employment Protection Legislation (EPL) has no impact on rent creation, but boosts workers' wages per hour. However, we observe that these wage increases are offset by a negative impact from EPL on hours worked per output unit, leading to a non-significant impact of EPL on workers' share of rents. The effects of EPL for low-skilled workers appear to be more pronounced than those for medium-skilled workers, both being much greater than for highly-skilled workers. In the second part of our analysis, we estimate the impacts of our new measures on Total Factor Productivity (TFP) in the framework of a straightforward regression model. We use the OECD regulations indicators as relevant instrument to take care of endogeneity and to make sure that the resulting estimates assess the proper regulation impacts of rent creation and sharing without being biased by other confounding effects. We find that less competition in the product and labor markets as assessed by our measures of mark-up and workers' share of rents have both substantial negative impacts on TFP.
Union Rent-sharing and Firm Behavior
Author: Stephen G. BronarsRent Creation and Sharing
Author: Gilbert CettePublisher:
ISBN:
Category : Labor productivity
Languages : en
Pages : 31
Book Description
This analysis proposes new measures of rent creation or (notional) mark-up and workers' share of rents on cross-country-industry panel data. While the usual measures of mark-up rate implicitly assume perfect labor markets, our approach relaxes this assumption, and takes into account that part of firms' rent created in an industry is shared with workers to an extent which can vary with their skills. Our results are based on a cross-country-industry panel covering 14 OECD countries and 19 industries over the 1985-2005 period. In a first part of our analysis we draw on OECD indicators of product and labor market (anticompetitive) regulations to test how they are related to our new measures of mark-up and rent-sharing. We find that anti-competitive Non-Manufacturing Regulations (NMR) affect mark-up rates positively, and hence firms' rent creation and workers' share of rent, whereas Employment Protection Legislation (EPL) has no impact on rent creation, but boosts workers' wages per hour. However, we observe that these wage increases are offset by a negative impact from EPL on hours worked per output unit, leading to a non-significant impact of EPL on workers' share of rents. The effects of EPL for low-skilled workers appear to be more pronounced than those for medium-skilled workers, both being much greater than for highly-skilled workers. In the second part of our analysis, we estimate the impacts of our new measures on Total Factor Productivity (TFP) in the framework of a straightforward regression model. We use the OECD regulations indicators as relevant instrument to take care of endogeneity and to make sure that the resulting estimates assess the proper regulation impacts of rent creation and sharing without being biased by other confounding effects. We find that less competition in the product and labor markets as assessed by our measures of mark-up and workers' share of rents have both substantial negative impacts on TFP.
Unionization and Regulation
Author: Nancy L. RosePublisher: Forgotten Books
ISBN: 9781330760741
Category : Business & Economics
Languages : en
Pages : 62
Book Description
Excerpt from Unionization and Regulation: The Division of Rents in the Trucking Industry I am grateful to Henry Farber, Franklin Fisher, Paul Healy, Paul Joskow, Stewart Myers, Michael Salinger, Lawrence Summers, members of the MIT micro workshop, and especially James Poterba for helpful conversations and comments. I thank Michael Salinger and Data Resources, Inc. for data assistance. Financial support was provided by a National Science Foundation fellowship and a Sloan Foundation grant to the MIT Economics Department. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Rent Building, Rent Sharing
Author: Philippe AskenazyRent Creation and Rent Sharing
Author: Gilbert CettePublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
This analysis proposes new measures of rent creation and rent sharing and assesses their impact on productivity on cross-country-industry panel data. We find first that: (1) anticompetitive product market regulations positively affect rent creation and (2) employment protection legislation boosts hourly wages, particularly for low-skill workers. However, we find no significant impact of this employment legislation on rent sharing, as the hourly wage increases are offset by a negative impact on hours worked. Second, using regulation indicators as instruments, we find that rent creation and rent sharing both have a substantial negative impact on total factor productivity.
Training, Rent-sharing and Unions
Author: Alison L. BoothPublisher:
ISBN:
Category : Economics
Languages : en
Pages : 56
Book Description
Regulating for Decent Work
Author: S. LeePublisher: Springer
ISBN: 0230307833
Category : Political Science
Languages : en
Pages : 386
Book Description
Regulating for Decent Work is a response to the dominant deregulatory approaches that have shaped labour market regulation in recent years. The inter-disciplinary and international approach invigorates current debates through the identification of new challenges, subjects and perspectives.