The Impact of Potential Labor Supply on Licensing Exam Difficulty in the US Market for Lawyers
AbstractEntry into licensed professions requires meeting competency requirements, typically assessed through licensing examinations. In the market for lawyers, there are large differences in the difficulty of the entry examination both across states and over time. The paper explores whether the number and quality of individuals attempting to enter the profession (potential supply) affects the difficulty of the entry examination. The empirical results show that a larger potential supply leads to more difficult licensing exams and lower pass rates. This implies that licensing partially shelters the legal market from supply shocks.
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Bibliographic InfoPaper provided by Former Department of Economics and Public Finance "G. Prato", University of Torino in its series Working papers with number 18.
Length: 27 pages
Date of creation: Feb 2011
Date of revision: May 2013
occupational licensing; legal market; bar exam; minimum standards; entry regulation;
Other versions of this item:
- Mario Pagliero, 2007. "The Impact of Potential Labor Supply on Licensing Exam Difficulty in the US Market for Lawyers," CHILD Working Papers wp19_08, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
- L4 - Industrial Organization - - Antitrust Issues and Policies
- L5 - Industrial Organization - - Regulation and Industrial Policy
- J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
- K2 - Law and Economics - - Regulation and Business Law
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-19 (All new papers)
- NEP-CIS-2011-02-19 (Confederation of Independent States)
- NEP-IND-2011-02-19 (Industrial Organization)
- NEP-LAB-2011-02-19 (Labour Economics)
- NEP-LAW-2011-02-19 (Law & Economics)
- NEP-REG-2011-02-19 (Regulation)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Haas-Wilson, Deborah, 1986. "The Effect of Commercial Practice Restrictions: The Case of Optometry," Journal of Law and Economics, University of Chicago Press, vol. 29(1), pages 165-86, April.
- Paul Oyer & Scott Schaefer, 2012. "Firm/Employee Matching: An Industry Study of American Lawyers," NBER Working Papers 18620, National Bureau of Economic Research, Inc.
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