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12.06.2019

Price-cost margin and bargaining power in the European Union

Zeitschrift:
Empirical Economics
Autor:
Ana Cristina Soares
Wichtige Hinweise

Electronic supplementary material

The online version of this article (https://​doi.​org/​10.​1007/​s00181-019-01703-7) contains supplementary material, which is available to authorized users.
The author would like to thank all country teams from CompNet without whom this paper would not be possible. The author would also like to thank Paloma Garcia, Eric Bartelsman, Francesco Di-Comite, Sabien Dobbelaere, Catherine Fuss, Jose Montero, Nuno Alves, António Antunes, Isabel Horta Correia, João Amador, Paulo Júlio, Carlos Robalo Marques along with seminar participants at 44th Annual Conference of the European Association for Research in Industrial Economics (EARIE), the European Central Bank Seminar Series and two anonymous referees for useful suggestions. The opinions expressed in this article are the sole responsibility of the author and do not necessarily reflect the position of Banco de Portugal or the Eurosystem.

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Abstract

Using firm-level data between 2004 and 2012 for 11 countries of the European Union (EU), we document the size of product and labour market imperfections within narrowly defined sectors including services which are virtually undocumented. Our findings suggest that perfect competition in both product and labour markets is widely rejected. Levels of the price-cost margin and union bargaining power tend to be higher in some service sectors depicting, however, substantial heterogeneity. Dispersion within sector and across countries tends to be higher in some services sectors assuming a less tradable nature which suggests that the single market integration is partial, particularly relaxing the assumption of perfect competition in the labour market. We report also figures for the aggregate economy and show that Eastern countries tend to depict lower product and labour market imperfections compared to other countries in the EU. Also, we provide evidence in favour of a very limited adjustment of both product and labour market imperfections following the international and financial crisis.

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Zusatzmaterial
Supplementary material 1 (pdf 112 KB)
181_2019_1703_MOESM1_ESM.pdf
Literatur
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