Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets
构建了一个包含商品市场垄断竞争和劳动力市场议价的宏观经济模型，分析放松管制如何减少和重新分配租金，并探讨其对欧洲宏观经济演变的启示。
Product and labor market deregulation reduce and redistribute rents, leading economic players to adjust to this new distribution. It typically comes with distribution and dynamic effects. To study these effects, we build a macroeconomic model on two central assumptions: monopolistic competition in the goods market, which determines the size of rents; and bargaining in the labor market, which determines the distribution of rents. Product market regulation determines entry costs and the degree of competition. Labor market regulation determines the bargaining power of workers. We show the effects of deregulation. We then use our results to discuss the political economy of deregulation, and recent macroeconomic evolutions in Europe.