McShane, Michael K.; Cox, Larry A.; Butler, Richard J. - In: Journal of Banking & Finance 34 (2010) 3, pp. 522-532
Regulatory separation theory indicates that a system with multiple regulators leads to less forbearance and limits producer gains while a model of banking regulation developed by Dell'Ariccia and Marquez (2006) predicts the opposite. Fragmented regulation of the US life insurance industry...