%0 Report
        %A Kawaguchi, Daiji
%A Murao, Tetsushi
%A Kambayashi, Ryo
        %T Incidence of Strict Quality Standards: Protection of Consumers or Windfall for Professionals?
        %D 2013
        %8 2013 Jun
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 7443
        %U https://www.iza.org/index.php/publications/dp7443
        %X This paper examines the effects of upgrading product quality standards on product and professional labor-market equilibriums when both markets are regulated. The Japanese government revised the Building Standards Act in June 2007, requiring a stricter review process for admitting the plans of large-scale buildings. This regulatory change increased the wage of certified architects in Tokyo by 30% but did not increase their total hours worked because of an inelastic labor supply. The stricter quality standards created a quasi-rent for certified architects and owners of condominiums at a cost to consumers. Evidence suggests that the stricter quality standards increased the transaction price of used condominiums by 15% in the Tokyo metropolitan area.
        %K product standard
%K safety regulation
%K incidence of government regulation
%K labor market of professionals