Pro-competitive policies and the convergence of markups

Hervé Boulhol ()
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Hervé Boulhol: IXIS-CIB - Corporate Investment Bank, TEAM - Théories et Applications en Microéconomie et Macroéconomie - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: This paper gives estimates of sectoral markup trends over the last three decades. It concludes with a slight increase of price-cost margins overall, contrary to the generally expected effect of increased competition. More strikingly, it establishes a clear pattern of markup convergence across countries and sectors. These movements explain a notable part of the decline in the labour share. Taking into account labour market imperfections, they suggest that the workers' bargaining power has deteriorated and stress that endogeneous market structure, rent sharing and interactions between product and labour markets are key ingredients for assessing the impacts of increased competition.

Keywords: labour share; wage bargaining; pro-competitive effect; markup; effet pro-concurrentiel; part du travail dans la valeur ajoutée; négociation salariale (search for similar items in EconPapers)
Date: 2005-01
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00193915
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Published in 2005

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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-00193915

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