RELAXING OCCUPATIONAL LICENSING IN ITALY: A STAGGERED DIFFERENCE IN DIFFERENCES ANALYSIS USING BALANCE-SHEET DATA OF ITALIAN PHARMACIES

Giuseppe Rose and Francesco Mazzulla ()
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Francesco Mazzulla: Department of Economics, Statistics and Finance 'Giovanni Anania', University of Calabria, Rende (Italy)

No 202302, Working Papers from Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF

Abstract: This paper examines the effects of a policy implemented in Italy in 2012, deregulating the market of pharmacies, in order to reduce barriers to entry and improve competition. Drawing municipal-level data from Aida for the following years 2011-2019, we assess the impact of the reform on revenues and net profits of pharmacies located in municipalities where there have been new openings. In order to properly examine the policy that adopts a staggered implementation we propose an evaluation method that include three different estimation steps, using some recently developed methods to deal with staggered adoption, and an event study to compare our final results. Our findings show that relaxing occupational licensing decreased both revenues and net profits for treated pharmacies across all different specifications of the dependent variables.

Keywords: occupational licensing; deregulation; staggered difference-in-differences; event-study; csdid; did_imputation; generalized difference-in-differences (search for similar items in EconPapers)
JEL-codes: D45 J01 L43 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2023-12
New Economics Papers: this item is included in nep-lab and nep-law
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http://www.ecostat.unical.it/RePEc/WorkingPapers/WP02_2023.pdf First version, 2023-12 (application/pdf)

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