Product and labor market deregulation are fundamentally about reducing and redistributing rents, leading economic … players to adjust in turn to this new distribution. Thus, even if deregulation eventually proves beneficial, it comes with … regulation as determining both the entry costs faced by firms, and the degree of competition between firms. We think of labor …

force in the developing world in the past two decades. The persistence of large informal sectors throughout the developing … world, including countries with high rates of growth, puts a premium on increasing our knowledge of how informal sector …

Regulation of economic activity is ubiquitous around the world, yet standard theories predict it should be rather … uncommon. I argue that the ubiquity of regulation is explained not so much by the failure of markets, or by asymmetric … accounts for the ubiquity of regulation, for its growth over time, as well as for the fact that contracts themselves are …

business cycle conditions at the time of deregulation significantly affect adjustment. A reduction of firing costs entails …

electricity prices to allow the utility to recover its prudently incurred costs, a process known as cost-of-service regulation …