TY  - RPRT
        AU  - Kawaguchi, Daiji
AU  - Murao, Tetsushi
AU  - Kambayashi, Ryo
        TI  - Incidence of Strict Quality Standards: Protection of Consumers or Windfall for Professionals?
        PY  - 2013/Jun/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 7443
        UR  - https://www.iza.org/publications/dp7443
        AB  - 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.
        KW  - product standard
KW  - safety regulation
KW  - incidence of government regulation
KW  - labor market of professionals
        ER  -