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 introduce a model of asymmetric competition where two network operators with different investment costs may build an internet access infrastructure and where a virtual operator provides services through third-party access. We show that the virtual operator requests access from the low cost...