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Rent Creation and Rent Sharing: New Measures and Impacts on Total Factor Productivity

Abstract : This analysis proposes new measures of rent creation and rent sharing and assesses their impact on productivity on cross-country-industry panel data. We find first that: (1) anticompetitive product market regulations positively affect rent creation and (2) employment protection legislation boosts hourly wages, particularly for low-skill workers. However, we find no significant impact of this employment legislation on rent sharing, as the hourly wage increases are offset by a negative impact on hours worked. Second, using regulation indicators as instruments, we find that rent creation and rent sharing both have a substantial negative impact on total factor productivity. (JEL E22, E24, O30, L50, O43, O47, C23)
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Gilbert Cette, Jimmy Lopez, Jacques Mairesse. Rent Creation and Rent Sharing: New Measures and Impacts on Total Factor Productivity. Economic Inquiry, Wiley, 2019, 57 (4), pp.1915-1938. ⟨10.1111/ecin.12809⟩. ⟨hal-02279411⟩

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