What question did this study set out to answer?

This research examines how occupational licensing and grading standards affect competition among practitioners.

The Economic Theory of Regulation: Evidence from the Uniform CPA Examination.

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Analysis finds changes in exam failure rates related to economic activity, indicating regulation impacts licensing outcomes.

This research examines how occupational licensing and grading standards affect competition among practitioners.
Analyzed time series data of Uniform CPA Examination results in California and Illinois.
Investigated relationships between exam failure rates and unemployment rates.
Compared results before and after the adoption of AICPA's Advisory Grading Service.
Increased exam failure rates were observed during economic downturns linked to rising unemployment.
No statistical relationship was found between failure rates and economic activity after adopting the advisory grading service.

S. David Young (1988) studied this question.

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