We examine a deregulation of German pharmacists to assess its effects on retail and labor markets. From 2004 onward, the reform allowed pharmacists to expand their single-store firms and to open or acquire up to three a liated stores. This partial deregulation of multi-store prohibition reduced...

Market concentration has been suggested as an enhancer of bargaining power imbalances for vertical commercial relationships. However, the empirical literature has not yet explored in which way this market concentration, as a result of -for instance- a M&A operations, could affect the...

We examine a deregulation of German pharmacists to assess its effects on retail and labor markets. From 2004 onward, the reform allowed pharmacists to expand their single-store firms and to open or acquire up to three affiliated stores. This partial deregulation of multi-store prohibition...

We examine a deregulation of German pharmacists to assess its effects on retail and labor markets. Our theoretical model suggests that firms with high managerial efficiency open more stores per firm and have higher labor demand due to the reform. We find a sharp persistent increase in entry...

We develop a general-equilibrium model to capture key features of the retailing and of the manufacturing industry in order to understand how these two industries interact and how labor is allocated between them. We show that the observed shift in employment from manufacturing to retailing, the...