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  1. Regulatory Consultation in the United States [Download]

    Title: Regulatory Consultation in the United States
    Author: Dudley, Susan E.
    Description: This paper provides an overview of the U.S. regulatory process to facilitate discussion of stakeholder consultation at the joint Bertelsmann Stiftung and George Washington University Regulatory Studies Center workshop on December 1, 2010. U.S. procedures for developing regulations derive from the U.S. Constitution and the 1946 Administrative Procedure Act (APA). While more recent laws and executive orders provide for additional analytical requirements, review, and consultation, the APA has guided the regulatory process and the role for the public for almost 65 years. This paper summarizes the Constitutional framework and the APA requirements, and then reviews the stages of rulemaking and the role for public consultation at each stage.
    Keywords: Regulation , Working Paper , Public Consultation, Public Policy, Regulatory Studies
    Date Uploaded: 12/14/2017
  2. eRulemaking Challenges in the United States [Download]

    Title: eRulemaking Challenges in the United States
    Author: Otis, Rick
    Description: We define eRulemaking as the application of information technology to the process of developing regulations. It offers the potential to substantially transform the process and the use of regulatory information by improving internal government operations, enhancing transparency and public engagement, creating more productive deliberation and collaboration mechanisms, reducing time delays, simplifying terminology, making document formats more consistent and understandable, and improving regulatory outcomes. It also offers the potential to better coordinate related statutes, regulations, legal reviews, compliance, enforcement, and programmatic evaluation.
    Keywords: Regulation, Working Paper, Technology, Public Policy, Regulatory Studies, Modernization
    Date Uploaded: 12/14/2017
  3. (Mis)Applications of Behavioral Economics to Regulation: The Importance of Public Choice Architecture [Download]

    Title: (Mis)Applications of Behavioral Economics to Regulation: The Importance of Public Choice Architecture
    Author: Smith, Adam C.
    Description: In this paper, I evaluate the recent promotion of libertarian paternalism as a viable means of coordinating market activities. In doing so, I challenge the notion that “anti-antipaternalism” logically follows from the findings in behavioral economics. For behavioral economic policy to be effective, advocates must show how policy will be rendered effectively through public institutions. I argue that the central dilemma of the field of behavioral law and economics is that it lacks analysis of the public choice architecture within which the improvement of private choice architecture would take place. Without an accompanying theory of the public institutions by which behavioral economic policy will be implemented, the promotion of these types of policy prescriptions is premature.
    Keywords: Regulation , Working Paper, Public Policy, Regulatory Studies, Behavioral Economics
    Date Uploaded: 12/14/2017
  4. Regulatory Subsidies: A Primer [Download]

    Title: Regulatory Subsidies: A Primer
    Author: Mannix, Brian F.
    Description: Subsidies are a commonplace feature of government programs, and can be found in regulatory programs as well as in budget expenditures and in the tax code. An accurate accounting of regulatory subsidies, accessible to the general public, could improve government regulation by helping to ensure that such subsidies are used only when, and to the degree that, they serve a sound public purpose. This is easier said than done, however. This paper explores the concept of a regulatory subsidy and review some examples. A more technical Appendix examines some of the obstacles to creating a clear accounting of regulatory subsidies, and suggest areas where useful studies might be pursued.
    Keywords: Regulation, Working Paper, Public Policy, Regulatory Studies, Subsidies
    Date Uploaded: 12/14/2017
  5. Regulation, Jobs, and Economic Growth: An Empirical Analysis [Download]

    Title: Regulation, Jobs, and Economic Growth: An Empirical Analysis
    Author: Sinclair, Tara M.
    Description: Claims about government regulation and its detrimental effects on job creation and economic growth are currently receiving substantial attention in the public sphere. Yet, conclusive evidence demonstrating this link between regulatory activity and macroeconomic indicators remains elusive. This paper seeks to empirically examine these linkages, using the onbudget costs of regulation over time as a proxy for federal regulatory activity. Our analysis finds that the macroeconomic effects of regulatory agency budgets as a whole as well as of subcategories of regulatory spending are indistinguishable from no effect based on the data and statistical methods available. This finding is generally robust throughout our sensitivity analysis. We explore possible explanations for this finding, as well as why our results differ from other studies on the same subject. This report highlights throughout the numerous challenges associated with both accurately measuring regulatory activity and obtaining valid estimates of its effects on the macroeconomy. It also offers recommendations moving forward on how to keep the public conversation about regulation constructive and evidence-based.
    Keywords: Regulation , Working Paper, Public Interest, Public Policy, Regulatory Studies, Job Growth, Economic Growth
    Date Uploaded: 12/14/2017
  6. Improving Causal Inferences in Risk Analysis [Download]

    Title: Improving Causal Inferences in Risk Analysis
    Author: Cox, Tony
    Description: Recent headlines and scientific articles projecting significant human health benefits from changes in exposures too often depend on unvalidated subjective expert judgments and modeling assumptions, especially about the causal interpretation of statistical associations. Some of these assessments are demonstrably biased toward false positives and inflated effects estimates. More objective, data-driven methods of causal analysis are available to risk analysts. These can help to reduce bias and increase the credibility and realism of health effects risk assessments and causal claims.
    Keywords: Regulation , Working Paper, Risk Analysis, Public Policy, Regulatory Studies, Causal Inferences
    Date Uploaded: 12/14/2017
  7. EPA’s Retrospective Review of Regulations: Will it Reduce Manufacturing Burdens? [Download]

    Title: EPA’s Retrospective Review of Regulations: Will it Reduce Manufacturing Burdens?
    Author: Miller, Sofie E.
    Description: Through a series of Executive Orders, President Obama has encouraged federal regulatory agencies to review existing regulations “that may be outmoded, ineffective, insufficient, or excessively burdensome, and to modify, streamline, expand, or repeal them in accordance with what has been learned.” This paper examines the initial results of that review to understand whether actions pursued under this initiative are likely to be successful at reducing regulatory burden. Since reports suggest that the manufacturing sector bears greater regulatory burdens than other sectors3 , and that regulations issued by the Environmental Protection Agency (EPA) impose particularly high costs on this sector, the focus here is on the expected effects on the manufacturing sector of EPA’s identified reforms. The paper first reviews the President’s directives to agencies, and EPA’s retrospective review action plan. It then examines the effect of EPA regulations on the manufacturing sector through several different lenses. Finally, it evaluates the regulatory actions EPA identified through its retrospective analysis to determine whether they can be expected to reduce regulatory burdens on the manufacturing sector.
    Keywords: Regulation, Working Paper, Environmental Policy, Public Policy, Regulatory Studies, Regulatory Policy, Environmental Protection Agency
    Date Uploaded: 12/14/2017
  8. Determining the Proper Scope of Climate Change Benefits [Download]

    Title: Determining the Proper Scope of Climate Change Benefits
    Author: Gayer, Ted
    Description: Although benefit assessment principles are well established for defined populations, there has been very little attention to how one defines the scope of the pertinent population for the assessment. Whose social welfare matters and whose benefits should be included in the assessment? Should there be any linkage between the benefits and the political jurisdiction whose citizens are paying for the policy? For national regulatory policies, the norm has been to assess benefits to U.S. citizens. This article reviews the norms for the scope of benefit assessment base on executive orders and the laws governing risk and environmental regulations.
    Keywords: Regulation, Working Paper, Public Interest, Public Policy, Regulatory Studies, Environment, Climate Change
    Date Uploaded: 12/14/2017
  9. Bank Disclosure and Incentives [Download]

    Title: Bank Disclosure and Incentives
    Author: Ray, Korok
    Description: In this working paper, Korok Ray proposes a microeconomic model of a bank that acts as a financial intermediary engaging in maturity transformation, borrowing short-term debt from a market of investors to fund a long term loan to a firm. The bank installs a manager who exerts costly effort to reduce the credit risk of the loan portfolio. Disclosing this credit risk to the market increases the manager’s incentives for risk management. The market rewards the manager’s early efforts to manage risk with a lower future cost of debt. When paid on bank equity, the manager is induced to better manage risk. Disclosure therefore helps resolve the moral hazard problem inside banks.
    Keywords: Regulation , Working Paper, Public Interest, Public Policy, Regulatory Studies, Banking
    Date Uploaded: 12/14/2017
  10. Improving Regulatory Accountability: Lessons from the Past and Prospects for the Future [Download]

    Title: Improving Regulatory Accountability: Lessons from the Past and Prospects for the Future
    Author: Dudley, Susan E.
    Description: This article examines efforts by the three branches of federal government to oversee regulatory policy and procedures. It begins with a review of efforts over the last century to establish appropriate checks and balances on regulations issued by the executive branch, and then evaluates current regulatory reforms that would hold the executive branch, the legislative branch, and the judicial branch more accountable for regulations and their outcomes.
    Keywords: Regulation , Working Paper, Public Interest, Public Policy, Regulatory Studies, Regulatory Policy
    Date Uploaded: 12/14/2017