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...

The paper discusses the economic problem and the institutional features underlying the Nimby syndrome, and illustrates preliminary empirical evidence for Italy. It argues that siting procedures taking local preferences into account should be preferred when the heterogeneity in preferences across...