Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … arise in multi- party relationships and that regulation introduces opportunities to impose rules that enhance the welfare of … discretion and choose actions for the common good. Agency-cost theories portray regulation as a way to raise the quality of …

Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … arise in multi- party relationships and that regulation introduces opportunities to impose rules that enhance the welfare of … discretion and choose actions for the common good. Agency-cost theories portray regulation as a way to raise the quality of …

movement towards greater global regulation: international banking supervision and the role of credit rating agencies. It … some argue that too much and some argue that too little regulation was the culprit. The paper then takes stock of current … actions and proposals to address alleged failures that move in the direction of further regulation or strengthened global …

intermediaries to process information. Second, reliance on credit ratings began as a response to the 1929 crash and became a primary …

the effects of banking regulation on macroeconomic dynamics. In particular, we study the overall credit exposure and the … overall exposure for banking stability, even if both features are very important. We show that a too tight regulation is …