Product Market Regulation and Market Work: A Benchmark Analysis
研究发现产品市场监管对市场工作时间的影响类似于劳动税或消费税，其关键驱动力是监管带来的收入转移规模，而传导机制是劳动供给弹性。
Recent empirical work finds a negative correlation between product market regulation and aggregate employment. We examine the effect of product market regulations on hours worked in a benchmark model of time allocation. Product market regulations affect market work in effectively the same fashion as labor or consumption taxes. For product market regulations to affect aggregate market work, the key driving force is the size of income transfers associated with the regulations, and the key propagation mechanism is the labor supply elasticity. We show that industry level analysis is of little help in assessing the aggregate effects of product market regulation.