mechanisms, and programmability, we analyze how they interact with existing financial rules. We compare approaches to regulation …

Regulation magazine celebrates its 40th anniversary this year, which is also roughly the anniversary of the beginning … of the deregulation era in federal domestic policy. This article reviews the history of the rise of federal regulation in … regulation so far in the 21st century. It concludes with a discussion of what antecedents might produce a second wave of …

Regulation is often funded with fees paid by regulated firms, potentially creating incentive problems. We use this … that pay higher fees may face more lenient regulation, when leniency increases regulatory budgets in the short term. Our … novel dataset on fees and regulatory actions, we find that firms that pay higher fees face more lenient regulation, which …

Banking is risky and prone to failure. Yet banking regulation is surprisingly not all that risk-sensitive in practice …. I show that when the bank has an informational advantage over the regulator, designing risk-sensitive banking regulation … gives rise to a trade-off: relying on the banking market for information to refine regulation improves bank risk-taking but …