Apr 28, 2022
An opinion column by Dr. Bobby Chung, assistant professor of finance, was published in the April 8 edition of the New York Times.
The column, which stems from Chung's research on the labor market effect of occupational licensing, is titled "Why Does a Hair Braider Need a License?"
In addiion, Chung's research paper titled "The costs and potential benefits of occupational licensing: A case of real estate license reform," has been published in Labour Economics. Read the article here: https://www.sciencedirect.com/...
This research investigates real estate license reform in Illinois in 2011 that mandated new compliance training for real estate agents. The paper finds that the reform caused a spike in nonrenewal because of the stringent requirements. The reduced agent
supply then led to a drop in home sales in 2012.
Across agent characteristics, female and novice agents were more likely to exit. For the policy intention, the reform did not significantly reduce new misconduct incidents.