Regulated occupations in Italy: extent and labor market effects
Sauro Mocetti (),
Lucia Rizzica () and
Giacomo Roma ()
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Giacomo Roma: Bank of Italy
No 495, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area
This work provides a descriptive assessment of regulated occupations in Italy and examines the impact of regulation on the labor market. First, we construct, on the basis of law provisions, a set of novel indicators measuring both the extensive and the intensive margin of regulation. We then show that regulated occupations represent a significant and increasing fraction of total employment (24%), their incidence being significantly larger among workers with a college degree (52%). Moreover, these occupations are characterized by lower mobility and entry rates and by a wage premium of about 9%, which raises to 18% for the professioni ordinistiche. Finally, we provide causal evidence that the reduction of entry requirements and the repeal of tariff restrictions lead to an increase in entry into regulated occupations and to a reduction of the wages of the incumbents.
Keywords: regulation; occupation mobility; entry rate; wages (search for similar items in EconPapers)
JEL-codes: J44 K20 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-law, nep-lma and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_495_19
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