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Did Labour Market Concentration Lower Wages Growth Pre-COVID?

1 Mar 2023 RDP 2023-02
Jonathan Hambur
t. ). =. X. i. ,. t. γ. ln. (. P. r. o. d. i. ,. t. ). β. C. o. ... Concentration – plant market share. 0.103. (0.027). R. 2. 0.67. 0.009.
https://www.rba.gov.au/publications/rdp/2023/2023-02/full.html

Data

1 Mar 2023 RDP 2023-02
Jonathan Hambur
c. o. u. n. t. o. r. w. a. g. e. ... M. a. r. k. e. t. h. e. a. d. c.
https://www.rba.gov.au/publications/rdp/2023/2023-02/data.html

Appendix B: Regression robustness results

1 Mar 2023 RDP 2023-02
Jonathan Hambur
0.075. (0.002). R. 2. 0.107. 0.631. 0.671. 0.110. 0.633. 0.672. N. ... 0.117. (0.015). Firm Concentration (plant share) Productivity. 0.259. (0.01). R. 2.
https://www.rba.gov.au/publications/rdp/2023/2023-02/appendix-b.html

Literature

1 Mar 2023 RDP 2023-02
Jonathan Hambur
o. n. c. e. n. t. r. a. t. i. o.
https://www.rba.gov.au/publications/rdp/2023/2023-02/literature.html

Why has the impact of concentration increased?

1 Mar 2023 RDP 2023-02
Jonathan Hambur
0.010. (0.004). Outside option Post GFC. 0.020. (0.004). R. 2. 0.670. ... Concentration (HHI) Entry Rate. 0.540. (0.204). 0.800. (0.228). R. 2. 0.67.
https://www.rba.gov.au/publications/rdp/2023/2023-02/why-has-the-impact-of-concentration-increased.html

References

1 Mar 2023 RDP 2023-02
Jonathan Hambur
Arsov I and R Evans (2018), ‘Wage Growth in Advanced Economies’, Reserve Bank of Australia Bulletin, March.
https://www.rba.gov.au/publications/rdp/2023/2023-02/references.html