We investigate whether the completion of the Single Market Programme has enhanced competition on the product markets across European countries, taking into account the companion structural reforms undertaken by the member countries, particularly in the labour market and the institutional setting...

In this paper, we investigate whether the completion of the Single Market Programme has enhanced competition on the product markets across European countries, while taking into account the companion structural reforms undertaken by the member countries. In particular, since the Single Market...

This paper discusses, theoretically and empirically, the relationship between two indicators: the profit share in value added and markups. While many commentators simply interpret the profit share as a proxy for markup, we show that with a production function with two inputs (i.e. labour and...