We empirically analyze the costs and benefits of financial regulation based on a survey of 76 insurers from Austria, Germany and Switzerland. Our analysis includes both established and new empirical measures for regulatory costs and benefits. This is the first paper that takes costs and benefits...

An important new dimension of the regulatory environment in banking and insurance is the explicit reliance on market discipline. Expectation: A transparent market will require less overt intervention by regulators (market participants themselves force appropriate behavior)...

The financial services industry has undergone significant regulatory change in thepast two decades due to Basel II (banking) and Solvency II (insurance). Even though these promulgations are focused on European institutions, their influenceextends around the globe. An important dimension of this...