Incidence of Strict Quality Standards: Protection of Consumers or Windfall for Professionals?
研究了日本2007年修订建筑标准法后，更严格的建筑审批流程使东京认证建筑师工资上涨30%，但工时未增，同时推高了现有公寓交易价格15%，表明严格质量标准为专业人士和业主创造了准租金，成本由消费者承担。
This paper examines the effects of upgrading product quality standards on product and professional labor market equilibriums when both markets are regulated. The Japanese government revised the Building Standards Act in June 2007, requiring a stricter review process for approving the plans of large-scale buildings. This regulatory change increased the wages of certified architects in Tokyo by 30 percent but did not increase their total hours worked because of an inelastic labor supply. The stricter quality standards created a quasi rent for certified architects and owners of condominiums at a cost to consumers. Evidence suggests that the new standards increased the transaction price of existing condominiums by 15 percent in the Tokyo metropolitan area.