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The Costs And Benefits Of Financial Regulation
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Book Synopsis Estimating the Costs of Financial Regulation by : Mr.Andre Santos
Download or read book Estimating the Costs of Financial Regulation written by Mr.Andre Santos and published by International Monetary Fund. This book was released on 2012-09-11 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Book Synopsis Assessing the Cost of Financial Regulation by : Douglas Elliott
Download or read book Assessing the Cost of Financial Regulation written by Douglas Elliott and published by International Monetary Fund. This book was released on 2012-10-05 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study assesses the overall impact on credit of the financial regulatory reforms in Europe, Japan, and the United States. Long-term cost estimates are provided for Basel III capital and liquidity requirements, derivatives reforms, and higher taxes and fees. Overall, average lending rates in the base case would rise by 18 bps in Europe, 8 bps in Japan, and 28 bps in the United States. These results are similar to the official BIS assessments of Basel III and an OECD analysis, but lower as a result of including expense cuts and reductions in the returns required by investors. As a result, they are markedly lower than those of the IIF.
Book Synopsis The Costs and Benefits of Financial Regulation. Towards a Monitoring System by : Paolo Garonna
Download or read book The Costs and Benefits of Financial Regulation. Towards a Monitoring System written by Paolo Garonna and published by . This book was released on 2015 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Some Cost-benefit Issues in Financial Regulation by : David Simpson
Download or read book Some Cost-benefit Issues in Financial Regulation written by David Simpson and published by . This book was released on 2000 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Costs and Benefits of Financial Regulation by : James Giesecke
Download or read book The Costs and Benefits of Financial Regulation written by James Giesecke and published by . This book was released on 2016 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial regulators in Australia and overseas are requiring banks to raise additional capital. The benefits of this are understood in terms of reducing the risk of incurring the significant costs of another financial crisis. But there are potential costs from securing these benefits, in the form of unanticipated macroeconomic impacts as banks reduce leverage ratios. In this paper, we explore the economic consequences of a 100 basis point increase in commercial bank capital adequacy ratios using a financial computable general equilibrium model of the Australian economy. We find that the macroeconomic consequences of the policy are small. Our results suggest that prudential regulators can move forward to secure the financial system stability benefits that they expect from higher capital adequacy requirements, without concern that significant costs will be imposed on the wider economy in the form of macroeconomic disruption.
Book Synopsis Financial Regulation by : Melbourne Centre for Financial Studies
Download or read book Financial Regulation written by Melbourne Centre for Financial Studies and published by . This book was released on 2008 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Public Regulation of Financial Services: Costs and Benefits to Consumers by : Arnold A. Heggestad
Download or read book Public Regulation of Financial Services: Costs and Benefits to Consumers written by Arnold A. Heggestad and published by Routledge. This book was released on 2019-06-10 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the many studies that have been conducted on the provision of financial services for consumers, regulation has emerged as one of the most important factors. The impact of regulation on financial service industries is a major focus of this comprehensive bibliography of relevant source materials in the field of regulatory economics. The bibliography includes entries from the major economics and finance journals published over the past twenty years, major law and business journals,government documents, books, and doctoral dissertations--all indexed according to subject matter--as well as abstracts of many of the papers.The product of extensive research, Heggestad's work is invaluable to university libraries, regulatory agencies, financial institutions, and financial experts, and is an efficient and essential reference tool for anyone wishing to study specific markets and the impact of financial regulation on them.
Book Synopsis The fundamental principles of financial regulation by : Markus Konrad Brunnermeier
Download or read book The fundamental principles of financial regulation written by Markus Konrad Brunnermeier and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Regulating Financial Markets by : George J. Benston
Download or read book Regulating Financial Markets written by George J. Benston and published by American Enterprise Institute. This book was released on 1999 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial services regulation tends to be costly and unsympathetic to consumers. This book examines why that is the case and proposes and regulatory regime that would be more efficient and more responsive to consumer interests.
Book Synopsis Financial Regulation by : Charles Goodhart
Download or read book Financial Regulation written by Charles Goodhart and published by Routledge. This book was released on 2013-04-15 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Regulation presents an important restatement of the purposes and objectives of financial regulation. The authors provide details and data on the scale, nature and costs of regulatory problems around the world, and look at what sort of countries and sectors require special attention and policies. Key topics covered include: * the need to recast the form of regulation * incentive structures for financial regulation * proportionality * new techniques for risk management * regulation in emerging countries * crisis management * prospects for financial regulation in the future.
Book Synopsis Financial Regulation and Cost-Benefit Analysis by : Cass R. Sunstein
Download or read book Financial Regulation and Cost-Benefit Analysis written by Cass R. Sunstein and published by . This book was released on 2014 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many regulators have concluded that cost-benefit analysis is the best available method for capturing the welfare effects of regulations. It is therefore understandable that in recent years, some people have been interested in requiring financial regulators to engage in careful cost-benefit analysis of their regulations, and to proceed only if the benefits justify the costs. Ideas of this sort have played a significant role in judicial review of agency action, especially in cases involving the Securities and Exchange Commission. But it is important to distinguish the question whether courts should require cost-benefit analyses, and review them for arbitrariness, from the separate question whether financial regulators should produce such analyses. It is also important to understand that in some cases, cost-benefit analysis presents serious challenges for financial regulators. When agencies lack relevant information, and cannot project benefits (or costs), they can invoke established techniques to discipline the question whether and how to proceed. In particular, breakeven analysis plays a valuable role. Of course it remains possible that in rare cases, agencies have so little information that they cannot even use breakeven analysis. In such cases, it is not helpful to refer to the precautionary principle or to “expert judgment.” In such rare cases, the best that agencies may be able to do is to rely on some version of maximin, while also seeking to fill informational gaps over time.
Book Synopsis Coasean Cost-Benefit Analysis of Financial Regulation by : D. Bruce Johnsen
Download or read book Coasean Cost-Benefit Analysis of Financial Regulation written by D. Bruce Johnsen and published by . This book was released on 2019 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. law requires federal regulators to perform cost-benefit analysis of new rules proposed to correct market failure. As Coase convincingly showed decades ago, the inefficiencies of market failure can be usefully attributed to the costs of transacting. This essay proposes a novel and relatively simple complement to traditional cost-benefit analysis where market participants face transaction costs sufficiently low that direct bargaining or competitive market forces will drive them toward efficiency. The Coasean approach requires regulators to identify the relevant parties, the economic good they seek to exchange, and the nature of the transaction cost equilibrium that inhibits them from capturing all possible gains from trade. A rule is justified under this approach only if the regulator can show it is likely to reduce transaction costs. Facing lower transaction costs, the parties will adjust their private arrangements to correct inefficiencies and increase the gains from trade. There is no need for the regulator to quantify and weigh total costs and benefits. This is information the parties--the men and women “on the spot”--are best able to identify on their own.
Book Synopsis Business Regulation and Public Policy by : André Nijsen
Download or read book Business Regulation and Public Policy written by André Nijsen and published by Springer Science & Business Media. This book was released on 2008-12-03 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: For years, businesses have complained about the costs of regulatory compliance. On the other hand, society is becoming increasingly aware of the environmental, safety, health, financial, and other risks of business activity. Government oversight seems to be one of the answers to safeguard against these risks. But how can we deregulate and regulate without jeopardizing our public goals or acting as a brake on economic growth? Many instruments are available to assess the effects of laws regulating business, including the regulatory impact assessment (RIA), which contains cost/benefit analysis, cost-effectiveness analysis, risk analysis, and cost assessments. This book argues that public goals will be achieved more effectively if compliance costs of the enterprises are as low as possible. Highlighting examples from a wide spectrum of industries and countries, the authors propose a new kind of RIA, the business impact assessment (BIA), designed to improve both business and public policy decision making.
Book Synopsis Cost-benefit Analysis of Financial Regulations by : Eric A. Posner
Download or read book Cost-benefit Analysis of Financial Regulations written by Eric A. Posner and published by . This book was released on 2014 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial regulators should use cost-benefit analysis (CBA) to evaluate financial regulations. Finance is an ideal domain for CBA because the direct costs and benefits of financial activity can be easily monetized, and a huge amount of data exists for calculating the relevant valuations. John Coates and others have argued that in fact the valuations are too difficult to determine because of unique features of financial markets that distinguish them from other types of markets where CBA is used. We respond that these features are present in other markets, and that financial valuations are difficult to determine at present only because academic research on them is at an early stage.
Book Synopsis The Costs and Benefits of Environmental Regulation by : Imad A. Moosa
Download or read book The Costs and Benefits of Environmental Regulation written by Imad A. Moosa and published by Edward Elgar Publishing. This book was released on 2014-11-28 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: øThe authors present an extensive survey of the empirical evidence on the determinants of environmental performance as well as the effects of environmental regulation on the costs of production, plant location, firm-level productivity, stock prices and
Book Synopsis Economic Regulation and Its Reform by : Nancy L. Rose
Download or read book Economic Regulation and Its Reform written by Nancy L. Rose and published by University of Chicago Press. This book was released on 2014-08-29 with total page 619 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Book Synopsis The Empty Call for Benefit-Cost Analysis in Financial Regulation by : Jeffrey N. Gordon
Download or read book The Empty Call for Benefit-Cost Analysis in Financial Regulation written by Jeffrey N. Gordon and published by . This book was released on 2014 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: The call for benefit-cost analysis in financial regulation is a category mistake that misunderstands the origins and utility of benefit-cost analysis as a guide to administrative rulemaking. BCA has its core metaphor an omniscient social planner who can calculate costs and benefits from a “natural” system that generates prices (cost and benefits) that do not change (or change much) no matter what the central planner does. For example, the toxicity of chemicals, the health hazards of emissions, the statistical value of life -- these do not change in response to health and safety regulation. For the financial sector, by contrast, the system that generates costs and benefits is “constructed” by financial regulation itself and by the subsequent processes of adaptation and regulatory arbitrage. An important new rule will change the system beyond our calculative powers. Instead of a weighing of costs and benefits, financial regulation necessarily is based on a series of trade-offs of normatively-derived values, which may entail principles of pragmatic design.
