The paper aims to measure transaction costs and its effects on labor market participation and on wage earnings. The observed differences between buying and sellin gprices of rice across households are used to calculate transaction costs indices for villages which are incorporated into the standard labor market participation and Mincer wage equations. The estimates indicate that transaction costs may be a source of the income differentials between (a) the landed and the landless, (b) the rural and the urban areas, and (c) the males and the females.
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Paper provided by Yale - Economic Growth Center in its series Papers with number
790.
Find related papers by JEL classification: J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
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