We introduce a new measure of the extent of federal regulation, the number of pages in the Code of Federal Regulations …, and use it to investigate the relationship between federal regulation and macroeconomic performance in the U.S. We find … that regulation has statistically and economically significant effects on aggregate output and the factors that produce it …

Financial regulation should be countercyclical, strengthening during speculative booms to contain excessive leverage … and loosening following crises so as to not limit credit extension in hard times. And yet, financial regulation in fact … choice perspective on financial regulation, i.e. rational choice ideas drawn from economics and applied to politics, but with …

Do politics matter for macroprudential policy? I show that changes to macroprudential regulation exhibit a predictable …

Following the 2008 financial crisis, countercyclical regulation emerged as one of the most promising breakthroughs in … years to halting destructive cycles of booms and busts. This new approach to systemic risk posits that financial regulation … and to prick asset bubbles before they burst. If countercyclical regulation is to succeed, however, then policymakers must …

behaviour and its regulation explicitly. The results show considerable asymmetry, with booms having proportionally larger …