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Estimating the Returns to Occupational Licensing: Evidence from Regression Discontinuities at the Bar Exam

Author

Listed:
  • Bamieh, Omar

    (Universidad Andres Bello)

  • Cintolesi, Andrea

    (Bank of Italy)

  • Pagliero, Mario

    (Collegio Carlo Alberto)

Abstract

We estimate the earnings returns to occupational licensing by exploiting regression discontinuities at the Italian bar exam. Law graduates who became lawyers after barely passing the exam earned 20,000 euros (50%) more per year than they would have in alternative occupations. This premium is not driven by monopoly rents from entry barriers. Instead, it reflects a compensating differential for the greater earnings risk inherent in the legal profession relative to the outside options available to law graduates.

Suggested Citation

  • Bamieh, Omar & Cintolesi, Andrea & Pagliero, Mario, 2026. "Estimating the Returns to Occupational Licensing: Evidence from Regression Discontinuities at the Bar Exam," IZA Discussion Papers 18816, IZA Network @ LISER.
    • Handle: RePEc:iza:izadps:dp18816
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    Keywords

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    JEL classification:

    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • L84 - Industrial Organization - - Industry Studies: Services - - - Personal, Professional, and Business Services
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General

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