G2TT
来源类型Discussion paper
规范类型论文
来源IDDP17367
DP17367 Private Monopoly and Restricted Entry - Evidence from the Notary Profession
Frank Verboven; Biliana Yontcheva
发表日期2022-06-07
出版年2022
语种英语
摘要We study entry restrictions in a private monopoly: the Latin notary system. Under this widespread system, the state appoints notaries and grants them exclusive rights to certify various important economic transactions, including real estate, business registrations, and marriage and inheritance contracts. We develop an empirical entry model to uncover the current policy goals behind the geographic entry restrictions. The entry model incorporates a spatial demand model to infer the extent of market expansion versus business stealing from entry, and a multi-output production model to determine the markups for real estate and other transactions. We find that the entry restrictions primarily serve producer interests, and give only a small weight to consumer surplus, even conditional on the current high markups. We subsequently perform policy counterfactuals with welfare-maximizing and free entry. We show how reform would generate considerable welfare improvements, and imply a substantial redistribution towards consumers without threatening geographic coverage.
主题Industrial Organization ; Political Economy
关键词Entry restrictions Occupational licensing Regulatory policy
URLhttps://cepr.org/publications/dp17367
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/546419
推荐引用方式
GB/T 7714
Frank Verboven,Biliana Yontcheva. DP17367 Private Monopoly and Restricted Entry - Evidence from the Notary Profession. 2022.
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