Aggregate Markup and Its Impact on Income Inequality: Country Panel Evidence

Hyungsuk Lee and Junsang Lee

International Economic Journal, 2023, vol. 37, issue 3, 387-400

Abstract: This study investigates the relationship between market power, as measured by aggregate markups, and income inequality across 34 countries between 1991 and 2016. We find that market power is positively associated with income inequality in developing countries, while the relationship between markups and income inequality in advanced economies is more nuanced and statistically insignificant. Our study reveals that a higher collective bargaining rights mitigate the impact of market power on income inequality, emphasizing the importance of robust worker protection systems for fostering a more equitable labor market environment.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:taf:intecj:v:37:y:2023:i:3:p:387-400

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DOI: 10.1080/10168737.2023.2239204

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