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| Author: | Spector, D. |
| Title: | Competition and the capital–labor conflict |
| Journal: | European Economic Review
2004 : FEB, VOL. 48:1, p. 25-38 |
| Index terms: | Labour markets Competition Pay Bargaining Deregulation Policy Models |
| Language: | eng |
| Abstract: | This paper analyzes the distributional effects of changes in the intensity of product market competition. The focus is on the interaction btw. imperfect competition in product markets and bargaining in the labour market. The main result is that, while a uniform intensification of product market competition increases employment, it may cause real wages to fall, in the short run as well as in the long run. This is especially likely if labour market regulations are favourable to workers. Therefore, product market and labour market regulations tend to reinforce each other politically, and compensatory fiscal transfers may be needed in order to enact employment-enhancing deregulation policies. |
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