We exploit a quasi-natural experiment to identify the effect of regulatory accumulation on economic growth. Following a decade of poor economic growth, the Canadian province of British Columbia implemented a regulatory budget in 2001. We use a difference-in-differences strategy to estimate the...

We estimate the effects of federal regulation on value added to GDP for a panel of 22 industries in the United States over a period of 35 years (1977–2012). The structure of our linear specification is explicitly derived from the closed-form solutions of a multisector Schumpeterian model of...

In the United States, all newly developed drugs undergo a lengthy review process conducted by the Federal Food and Drug Administration (FDA). These regulatory delays are costly for drug manufacturers and patients. We collected data on review times of drugs approved between 1999 and 2005 and...