Product market regulation and market work
Subtitle: a benchmark analysis
By: Lei Fang, Richard Rogerson.
Contributors: Rogerson,Richard.; Fang, Lei.; National Bureau of Economic Research.
Series: NBER working paper series -- working paper 12891; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 12891.
Publisher: National Bureau of Economic Research
Published: 2007
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "Recent empirical work finds a negative correlation between product market regulation and aggregate employment.  We examine the effect of product market regulations on hours worked in a benchmark aggregate model of time allocation.  We find that product market regulations affect time devoted to market work in effectively the same fashion as do taxes on labor income or consumption.  In particular, if product market regulations are to affect aggregate market work in this model the key driving force is the size of income transfers associated with the regulation relative to labor income, and the key propagation mechanism is the labor supply elasticity.  We show in a two sector model that industry level analysis is of little help in assessing the aggregate effects of product market regulation"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 5/11/2007.

Includes bibliographical references.

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