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This paper examines the impact of trade liberalization on firms' product and labor market power. We estimate the prevalence and intensity of firm-level price-cost markups and either wage markups or wage markdowns. We take the dependence between these model-consistent measures of product and...
Persistent link: https://www.econbiz.de/10012169328
two other approaches that rely on standard micro production data only: the productivity approach for which estimates of … about 0.30 using either the productivity or the accounting approach. Only exploiting firm-level information brings this …
Persistent link: https://www.econbiz.de/10010532584
two other approaches that rely on standard micro production data only: the productivity approach for which estimates of … about 0.30 using either the productivity or the accounting approach. Only exploiting firm-level information brings this …
Persistent link: https://www.econbiz.de/10011283105
productivity regression that relies on standard firm-level input and output data. We view these two regressions as reduced …-sharing parameters amount roughly to 0.40 and 0.30 for the productivity regression and to 0.20 and 0.16 for the wage determination …
Persistent link: https://www.econbiz.de/10011763822
productivity regression that relies on standard firm-level input and output data. We view these two regressions as reduced …-sharing parameters amount roughly to 0.40 and 0.30 for the productivity regression and to 0.20 and 0.16 for the wage determination …
Persistent link: https://www.econbiz.de/10011772944
-to-manage, efficient bargaining, labor hoarding) whereas the productivity approach hinges on the assumption of efficient bargaining. Across …-to-manage, efficient bargaining, labor hoarding) whereas the productivity approach hinges on the assumption of efficient bargaining. Across …
Persistent link: https://www.econbiz.de/10003951769
Embedding the efficient bargaining model into the R. Hall (1988) approach for estimating price-cost margins shows that both imperfections in the product and labor markets generate a wedge between factor elasticities in the production function and their corresponding shares in revenue. This...
Persistent link: https://www.econbiz.de/10011377461
Consistent with two models of imperfect competition in the labor market, the efficient bargaining model and the monopsony model, we provide two extensions of a microeconomic version of Hall's framework for estimating price-cost margins. We show that both product and labor market imperfections...
Persistent link: https://www.econbiz.de/10009006943
-setting power) and (iii) revenue productivity. We apply this framework to analyze whether the pricing behavior of firms in product …
Persistent link: https://www.econbiz.de/10011772937
-setting power) and (iii) revenue productivity. We apply this framework to analyze whether the pricing behavior of firms in product …
Persistent link: https://www.econbiz.de/10011776033