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Occupational Licensing Without Learning

Author

Listed:
  • Blanchard, Pablo
  • Fleitas, Sebastian
  • Malfetano, Nicolas

Abstract

Whether earnings premia in licensed occupations reflect human capital or scarcity rents is hard to identify, because training and licensing are bundled. We exploit a reform at Uruguay's main university that shortened the accounting degree and granted a license, without additional learning requirements, to students already working alongside incumbent accountants. Competition from these new licensees identifies changes in licensing rents, separate from returns to training. Incumbent accountants' earnings fell by about 9 percent relative to comparable professionals, with no change in employment, consistent with licensing rents.

Suggested Citation

  • Blanchard, Pablo & Fleitas, Sebastian & Malfetano, Nicolas, 2026. "Occupational Licensing Without Learning," CEPR Discussion Papers 22018, Centre for Economic Policy Research.
    • Handle: RePEc:cpr:ceprdp:22018
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    File URL: https://cepr.org/publications/DP22018
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    More about this item

    Keywords

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    JEL classification:

    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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