This paper reviews the US and European experiences with regulatory oversight and the use of formal tools to analyze regulation. We conclude that the US and Europe have made some progress in improving regulatory analysis and oversight, but they can do much more.We offer six recommendations for...

Although it is not possible to identify a specific, theoretical optimum level of aid coordination for the European Union, there is a broad consensus on the need for reduced transaction costs and greater impact through a stronger adherence to coordination standards. However, neither member states...

We evaluate a recent U.S. initiative to include the social cost of carbon (SCC) in regulatory decisions. To our knowledge, this paper provides the first systematic test of the extent to which applying the SCC has affected national policy. We examine all economically significant federal...

Governments throughout the world are requiring greater use of economic analysis as a way of informing key policy decisions. The European Union now requires that an impact assessment be done for all major policy initiatives. An evaluation of the EU system could provide lessons for the U.S. and...

Results-based approaches play an important role in the current development-policy debate. There are two aspects to this debate: on the one hand, further improving the effectiveness of development cooperation (aid) is important to the specialists; whereas on the other hand, many donors...

The U.S. Environmental Protection Agency recently finalized a rule that would reduce the maximum allowable level of arsenic in drinking water by 80 percent, from 50 micrograms per liter to 10 micrograms, by 2006. As soon as the rule was announced during the waning hours of the Clinton...