& Immordino (2007), we study the optimal regulation of CRAs in a model where rating quality is unobservable and enforcing … regulation is costly. The model shows that minimum rating standards increase the social value of credit ratings. The model also … analyzes implications for regulation in the presence of conflicts of interest between the CRA and the rated clients by direct …

amplified by economic integration, which makes factors and producers more mobile and enables them to avoid burdensome regulation … growth equations by using internal instruments to identify a causal relationship between regulation and growth in the … presence of international trade and find evidence that both regulation and trade have a significant positive influence on …

contributions to the latter's decisions. Both a shift from national to international regulation and a decrease in trade costs …

This paper studies the effect of pharmaceutical regulation at the wholesale level, if markets are integrated by …

The European Commission recently put forward a proposal for a regulation to amend and strengthen the 2009 version of … the EU's rules on the regulation of credit rating agencies ("CRA3"). Among other things, Art. 35a of the draft proposal …

Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing …

In France, firms with 50 employees or more face substantially more regulation than firms with less than 50. As a result … regulation as the combination of a sunk cost that must be paid the first time the firm reaches 50 employees, and a payroll tax … indirect inference by fitting the discontinuity of the size distribution. The key finding is that the regulation is equivalent …