& Immordino (2007), we study the optimal regulation of CRAs in a model where rating quality is unobservable and enforcing … regulation is costly. The model shows that minimum rating standards increase the social value of credit ratings. The model also … analyzes implications for regulation in the presence of conflicts of interest between the CRA and the rated clients by direct …

In this study, we examine the effect of capital regulation on insurers’ pricing behavior using homeowners’ insurance … increases is restrained; we attribute the small magnitude to insurance pricing regulation. Taken together with the size of the … study provides evidence that climate-related regulation can have unintended consequences for consumers while the effect is …

-competitive regulation underlying Open Banking projects in the EU, UK, Australia and other jurisdictions as the true game-changer approach …

then proceeds by detailing how an ill-designed policy framework, relying on supposed market approaches to regulation … – including self-regulation and credit rating agencies – enabled TBTF financial institutions to game the system and thereby …

due to the regulation, which leads to a downward jump in social welfare. Furthermore, we present various structures of … social welfare with respect to the level of skin in the game, and clarify the necessity of countercyclical regulation by … verifying that the social losses of the current regulation become more severe during recession …

risk weight decreases in the post-regulation period. Overall, our paper points to an important unintended consequence of …