In recent years, cases in which state governments chose to override federal environmental regulation with tighter … paper argues that this change arose at least in part because of a shift in the type of regulation used at the federal level …, from command-and-control regulation toward more incentive-based regulation. Under an incentive-based federal regulation, a …

The outreach of macroprudential policies is likely limited in practice by imperfect regulation enforcement, whether due … to shadow banking, regulatory arbitrage, or other regulation circumvention schemes. We study how such concerns affect the …

firms are more likely to anger consumers. Regulation can increase welfare, for example, through fines (even if there are no … changes in prices). We illustrate these gains in a monopoly setting, where regulation affects welfare through 3 channels (i) a …); (ii) regulation calms down existing consumers because a reduction in the profits of an "unkind" firm increases total …

. In a straightforward application of the theory of the second best, I show that incomplete regulation can welfare dominate …For political, jurisdictional and technical reasons, environmental regulation of industrial pollution is often … regulated producers are less polluting than their unregulated ounterparts, emissions under incomplete regulation can exceed the …

This lecture considers the case for consumer financial regulation in an environment where many households lack the …