Market power, productivity and distribution of wages: theory and evidence with micro data:
The declining labor share in national income and rising inequality over the last four decades raise questions about causes of these trends. In order to explain these trends, we develop a theoretical model that links intra-industry distribution of wages to variation in market power of firms. The mode...
Gespeichert in:
| Hauptverfasser: | , |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Regensburg
Leibniz Institute for Eastern and Southeastern European Studies
May 2020
|
| Schriftenreihe: | IOS working papers
No. 387 |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | The declining labor share in national income and rising inequality over the last four decades raise questions about causes of these trends. In order to explain these trends, we develop a theoretical model that links intra-industry distribution of wages to variation in market power of firms. The model predicts that wages depend crucially on the demand side characteristics – they decline with market power if and only if demand elasticity is increasing with firm’s output. Trade liberalization leads to expansion of more productive firms, which also increases their bargaining power, resulting in lower share of wage bill in total revenue. The model predictions are tested on a sample of Ukrainian manufacturing firms in 2001– 2007. We document that an increase in firm’s size increases its bargaining power relative to workers. We measure firm level markups, and show that they increase with firm’s output and market size. We find that wage rises with firm’s productivity, but fall with its market power. The results are robust to various model specifications estimated at the firm and industry levels. |
| Beschreibung: | 1 Online-Ressource (v, 40 Seiten) Diagramm |
| Format: | kostenfrei |
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| index_date | 2024-07-03T14:36:42Z |
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| spelling | Shepotylo, Oleksandr Verfasser (DE-588)1206370033 aut Market power, productivity and distribution of wages: theory and evidence with micro data Oleksandr Shepotylo and Volodymyr Vakhitov Regensburg Leibniz Institute for Eastern and Southeastern European Studies May 2020 1 Online-Ressource (v, 40 Seiten) Diagramm txt rdacontent c rdamedia cr rdacarrier IOS working papers No. 387 The declining labor share in national income and rising inequality over the last four decades raise questions about causes of these trends. In order to explain these trends, we develop a theoretical model that links intra-industry distribution of wages to variation in market power of firms. The model predicts that wages depend crucially on the demand side characteristics – they decline with market power if and only if demand elasticity is increasing with firm’s output. Trade liberalization leads to expansion of more productive firms, which also increases their bargaining power, resulting in lower share of wage bill in total revenue. The model predictions are tested on a sample of Ukrainian manufacturing firms in 2001– 2007. We document that an increase in firm’s size increases its bargaining power relative to workers. We measure firm level markups, and show that they increase with firm’s output and market size. We find that wage rises with firm’s productivity, but fall with its market power. The results are robust to various model specifications estimated at the firm and industry levels. kostenfrei Langzeitarchivierung durch die Bayerische Staatsbibliothek Vakhitov, Volodymyr Verfasser aut IOS working papers No. 387 (DE-604)BV040033175 387 http://www.dokumente.ios-regensburg.de/publikationen/wp/wp_387.pdf Verlag kostenfrei |
| spellingShingle | Shepotylo, Oleksandr Vakhitov, Volodymyr Market power, productivity and distribution of wages: theory and evidence with micro data IOS working papers |
| title | Market power, productivity and distribution of wages: theory and evidence with micro data |
| title_auth | Market power, productivity and distribution of wages: theory and evidence with micro data |
| title_exact_search | Market power, productivity and distribution of wages: theory and evidence with micro data |
| title_exact_search_txtP | Market power, productivity and distribution of wages: theory and evidence with micro data |
| title_full | Market power, productivity and distribution of wages: theory and evidence with micro data Oleksandr Shepotylo and Volodymyr Vakhitov |
| title_fullStr | Market power, productivity and distribution of wages: theory and evidence with micro data Oleksandr Shepotylo and Volodymyr Vakhitov |
| title_full_unstemmed | Market power, productivity and distribution of wages: theory and evidence with micro data Oleksandr Shepotylo and Volodymyr Vakhitov |
| title_short | Market power, productivity and distribution of wages: theory and evidence with micro data |
| title_sort | market power productivity and distribution of wages theory and evidence with micro data |
| url | http://www.dokumente.ios-regensburg.de/publikationen/wp/wp_387.pdf |
| volume_link | (DE-604)BV040033175 |
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