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BEGIN:VEVENT
UID:c35c2f40ec47e0c4e1d9d79bda617c6b
CATEGORIES:Seminars
CREATED:20260902T064825
SUMMARY:Lunch Seminar: Gaetano Basso - Bank of Italy
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nEntry Regulation and Labour Market Power: Evidence from the Italian Ser
 vice Sector\n\n\nAbstract:\nWe provide new evidence on the effects of lower
 ing barriers to firm entry on employers' monopsonistic power in the labour 
 market. We exploit a wave of product-market deregulation reforms introduced
  in Italian service sectors between 2010 and 2015 and administrative data a
 t both firm and worker-level. Combining a fine-sector index of entry regula
 tion with a difference-in-differences design for continuous treatment varia
 tion, we estimate the effects of deregulation on markups, wage markdowns, f
 ull-time equivalent wages, and job-separation elasticities. We find that de
 regulation lowered wage markdowns and raised wages and employment. The decr
 ease in employers' monopsonistic power is also corroborated by an increase 
 in labour supply elasticity estimated from job separations. Product-market 
 deregulation may therefore improve workers' welfare by intensifying competi
 tion among employers.\n
DTSTAMP:20261001T025605Z
DTSTART:20261028T163000Z
DTEND:20261028T180000Z
SEQUENCE:0
TRANSP:OPAQUE
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