6533b852fe1ef96bd12aa30f
RESEARCH PRODUCT
RENT CREATION AND RENT SHARING: NEW MEASURES AND IMPACTS ON TOTAL FACTOR PRODUCTIVITY
Jacques MairesseGilbert CetteJimmy Lopezsubject
Economics and EconometricsLabour economicsProduct marketEmployment protection legislationMARKET REGULATIONSINNOVATIONmedia_common.quotation_subjectJEL: E - Macroeconomics and Monetary Economics/E.E2 - Consumption Saving Production Investment Labor Markets and Informal Economy/E.E2.E22 - Investment • Capital • Intangible Capital • Capacityo47 - "Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence"COMPETITIONo25 - Industrial Policylabor market regulationsPANELCompetition (economics)TFPMeasurement of Economic Growth; Aggregate Productivity; Cross-Country Output ConvergenceCapital; Investment; Capacitye24 - "Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital"0502 economics and businessEconomicso30 - "Technological Change; Research and Development; Intellectual Property Rights: General"JEL: O - Economic Development Innovation Technological Change and Growth/O.O4 - Economic Growth and Aggregate Productivity/O.O4.O47 - Empirical Studies of Economic Growth • Aggregate Productivity • Cross-Country Output Convergence050207 economicsProductivityTotal factor productivityTechnological Change; Research and Development; Intellectual Property Rights: GeneralJEL: E - Macroeconomics and Monetary Economics/E.E2 - Consumption Saving Production Investment Labor Markets and Informal Economy/E.E2.E24 - Employment • Unemployment • Wages • Intergenerational Income Distribution • Aggregate Human Capital • Aggregate Labor Productivity050205 econometrics media_commonJEL: C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C23 - Panel Data Models • Spatio-temporal Modelsmark-up05 social sciencesIndustrial Policy[SHS.ECO]Humanities and Social Sciences/Economics and FinanceInvestment (macroeconomics)General Business Management and Accountingrent-sharingJEL: O - Economic Development Innovation Technological Change and Growth/O.O4 - Economic Growth and Aggregate Productivity/O.O4.O43 - Institutions and Growth8. Economic growthUnemploymento43 - Institutions and GrowthEmployment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capitale22 - "Capital; Investment; Capacity"JEL: L - Industrial Organization/L.L5 - Regulation and Industrial Policy/L.L5.L50 - GeneralJEL: O - Economic Development Innovation Technological Change and Growth/O.O3 - Innovation • Research and Development • Technological Change • Intellectual Property Rights/O.O3.O30 - GeneralInstitutions and Growthproduct market regulationsPanel datadescription
International audience; 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. (JEL E22, E24, O30, L50, O43, O47, C23)
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2019-10-01 | Economic Inquiry |