文章基本信息

标题：Product Market Deregulation and the U.S. Employment Miracle
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作者：Monique Ebell ; Christian Haefke
期刊名称：CEP Discussion Paper
出版年度：2008
卷号：2008
期号：jun
出版社：Centre for Economic Performance
摘要：We consider the dynamic relationship between product market entry regulation and equilibrium unemployment. The main theoretical contribution is combining a job matching model with monopolistic competition in the goods market and individual bargaining. We calibrate the model to US data and perform a policy experiment to assess whether the decrease in trend unemployment during the 1980's and 1990's could be attributed to product market deregulation. Under a traditional calibration, our results suggest that a decrease of less than two-tenths of a percentage point of unemployment rates can be attributed to product market deregulation, a surprisingly small amount. Under a small surplus calibration, however, product market deregulation can account for the entire decline in US trend unemployment over the 1980's and 1990's
关键词：Product market competition, barriers to entry, wage bargaining