Private monopoly and restricted entry
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Occupational licensing regulations are common across many service sectors, including health, education, transportation, and legal services. These regulations affect up to 20-30% of workers in both the U.S. and Europe, with considerable variation across states and countries; see for example Kleiner and Krueger (2010, 2013) and Koumenta and Pagliero (2019). General education and training requirements […] The post Private monopoly and restricted entry appeared first on Microeconomic Insights .