| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27325 |
| 来源ID | Working Paper 27325 |
| Imperfect Competition and Rents in Labor and Product Markets: The Case of the Construction Industry | |
| Kory Kroft; Yao Luo; Magne Mogstad; Bradley Setzler | |
| 发表日期 | 2020-06-08 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We quantify the importance of imperfect competition in the US construction industry by estimating the size of rents earned by American firms and workers. To obtain a comprehensive measure of the total rents and to understand its sources, we take into account that rents may arise due to markdown of wages in the labor market, or markup of prices in the product market, or both. Our analyses combine the universe of US business and worker tax records with newly collected records from US procurement auctions. We use this data to identify and estimate a model where construction firms compete with one another for projects in the product market and for workers in the labor market. The firms may participate both in the private market and in government projects procured through auctions. We find evidence of considerable wage- and price-setting power. This imperfect competition creates sizable rents, three-fourths of which is captured by the firms. The incentives of firms to mark down wages and reduce employment due to wage-setting power are attenuated by their price-setting power in the product market. |
| 主题 | Microeconomics ; Market Structure and Distribution ; Labor Economics ; Labor Compensation ; Labor Market Structures ; Industrial Organization ; Market Structure and Firm Performance |
| URL | https://www.nber.org/papers/w27325 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584996 |
| 推荐引用方式 GB/T 7714 | Kory Kroft,Yao Luo,Magne Mogstad,et al. Imperfect Competition and Rents in Labor and Product Markets: The Case of the Construction Industry. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27325.pdf（1330KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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