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Título:
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Product market deregulation and labor market outcomes
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Autor/a:
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Ebell, Monique; Haefke, Christian
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Otros autores:
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Universitat Pompeu Fabra. Departament d'Economia i Empresa |
Abstract:
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We consider the dynamic relationship between product market entry regulationand equilibrium unemployment. The main theoretical contribution is combininga Mortensen-Pissarides model with monopolistic competition in the goods marketand individual wage bargaining. Product market competition affects unemploymentvia two channels: the output expansion effect and a countervailing effect dueto a hiring externality. Competition is then linked to barriers to entry. Acalibrated model compares a high-regulation European regime to a low-regulationAnglo-American one. Our quantitative analysis suggests that under individualbargaining, no more than half a percentage point of European unemployment ratescan be attributed to entry regulation. |
Materia(s):
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-product market competition -barriers to entry -wage bargaining -european unemployment puzzle -Macroeconomics and International Economics |
Derechos:
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http://creativecommons.org/licenses/by-nc-nd/3.0/es/ |
Tipo de documento:
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Documento de trabajo |
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