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Board of Governors of the Federal Reserve System

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

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Nick A. Carollo

Senior Economist Labor Markets Section Research and Statistics

[email protected]

Education

Ph.D., Economics, University of California, Los Angeles, 2021
M.Sc., Economics, London School of Economics, 2014
B.S., Economics, University of Wyoming, 2012

Current Research Topics

Occupational licensing
Wage determination

Economist
Board of Governors of the Federal Reserve System
2021 - present

The Origins and Evolution of Occupational Licensing in the United States
Nicholas A. Carollo, Jason F. Hicks, Andrew Karch, and Morris M. Kleiner
NBER Working Paper Series (2025)
https://doi.org/10.3386/w33580

Last Update: November 21, 2025