A tension between entry and rents lies at the core of a general theory of aggregation with scale effects. This paper …

income is down, mostly due to the rising market share of low labor share firms. We propose a theory for these trends in which …

's rents. Competitive rent preservation ensures no comprehensive reform path may command broad support. Though the initial … underdevelopment may lie in the natural tendency towards rent preservation in a divided society …

explicitly allowing for non-tariff barriers. Introducing partial rent capturing we obtain a testable specification which finds … support in the data. Our results suggest that average rent capturing is in the order of 72-75 percent …

) and a rent. With wage rigidity this sum is acyclical; we consider rent rigidity, where only the rent is acyclical. We … determination generates weakly procyclical worker rents, and that are attained by rent rigidity. Quantitatively, the bounds are … tight: rent rigidity generates no more than a third of observed volatility, an outcome that is closer to Nash bargaining …

loss. A major social cost of rent control is that without a fully operational price mechanism the 'wrong' consumers end up … using apartments. When prices are set below market price, many consumers want to rent apartments even though they receive … are second order. Thus for a sufficiently marginal implementation of rent control, these costs will always be more …