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  1. 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
  2. Races, Rushes, and Runs: Taming the Turbulence in Financial Trading [Download]

    Title: Races, Rushes, and Runs: Taming the Turbulence in Financial Trading
    Author: Mannix, Brian F.
    Description: Many participants, regulators, and observers of commodity and security markets have a sense that something in recent years has gone awry: that the explosive growth of high-frequency digital trading is somehow excessive, costly, unfair, and/or destabilizing. Several ideas for changing the rules have been discussed. Without a coherent explanation of exactly what is wrong, however, it can be very difficult to develop a promising remedy. The object of this paper is to offer one such explanation: that the digitization of the trading infrastructure, in combination with ubiquitous but fleeting information asymmetries, has stimulated a dramatic expansion of racing. By racing I mean the wasteful expenditure of resources in a contest to trade ahead of other market participants; that is, racing – like its cousin, queuing – is an example of a directly unproductive profit-seeking (DUP) activity whose costs erode the gains from trade that otherwise would be available to participants in the market. The paper also offers a specific remedy: the optional use of randomizing temporal buffers in the order flow.
    Keywords: Regulation , Working Paper, Financial Trading, Regulatory Studies
    Date Uploaded: 12/14/2017
  3. 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
  4. 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
  5. 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
  6. 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
  7. GW Extremism Tracker: Terorism in the United States (Sept. 2016) [Download]

    Title: GW Extremism Tracker: Terorism in the United States (Sept. 2016)
    Author: GW Program on Extremism
    Description: Our monthly updates detail terrorisms-related activities and court proceedings in the United States.
    Keywords: Extremism, Terrorism, Islamic State of Iraq and Syria (ISIS), Counterterrorism, National Security
    Date Uploaded: 12/14/2017
  8. Achieving Regulatory Policy Objectives: An Overview and Comparison of U.S. and EU Procedures [Download]

    Title: Achieving Regulatory Policy Objectives: An Overview and Comparison of U.S. and EU Procedures
    Author: Dudley, Susan E.
    Description: This paper aims to provide a descriptive analysis of procedural differences in regulatory development between the United States and the European Union to serve as a factual basis for understanding the regulatory challenges and opportunities for transatlantic trade. It summarizes regulatory procedures in each jurisdiction, dividing the process for establishing regulations into four stages: 1) agenda setting, 2) regulatory development, 3) final determination and opportunities for challenge, and 4) implementation and enforcement. After presenting the procedures in the U.S. and EU, the paper compares how the shared goals for achieving a regulatory system that is evidence based, transparent, and accountable are achieved in the two jurisdictions.
    Keywords: Regulation , Working Paper, Public Policy, Regulatory Studies, Regulatory Policy, United States, European Union
    Date Uploaded: 12/14/2017
  9. GW Extremism Tracker: Terorism in the United States (Sept. 2016) [Download]

    Title: GW Extremism Tracker: Terorism in the United States (Sept. 2016)
    Author: GW Program on Extremism
    Description: Our monthly updates detail terrorisms-related activities and court proceedings in the United States.
    Keywords: Extremism, Terrorism, Islamic State of Iraq and Syria (ISIS), Counterterrorism, National Security
    Date Uploaded: 12/14/2017
  10. Notice & Comment: How Agencies Use Advance Notices of Proposed Rulemaking [Download]

    Title: Notice & Comment: How Agencies Use Advance Notices of Proposed Rulemaking
    Author: Arumugam, Saayee
    Description: On June 4, 2015, Susan E. Dudley appeared before a Roundtable Discussion of the Senate Subcommittee on Regulatory Affairs and Federal Management and gave testimony on practical solutions for improving the federal regulatory process. During the discussion, members of the subcommittee mentioned the possibility of using advance notices of proposed rulemaking (ANPRMs) to improve public participation in the rulemaking process. For example, Congress is considering legislation that would require ANPRMs for all major regulations and rules that raise novel legal and policy issues. The Administrative Procedure Act does not require, or even mention, ANPRMs. ANPRMs are different from proposed rules in that they don’t typically present a particular policy proposal on which the public can comment. Instead, they might seek comments from the public on more general topics, such as what type of information hydraulic fracturing operations should report or how to subject grocery stores to implementation of the FDA Food Safety Modernization Act. These ANPRMs are intended to gather data or perspectives from the public before the agency has settled on a specific policy solution or group of specific policy solutions.
    Keywords: Regulation, Working Paper, Public Interest, Public Policy, Regulatory Studies, Regulatory Policy
    Date Uploaded: 12/14/2017