Regulation of economic activity is ubiquitous around the world, yet standard theories predict it should be rather … uncommon. I argue that the ubiquity of regulation is explained not so much by the failure of markets, or by asymmetric … accounts for the ubiquity of regulation, for its growth over time, as well as for the fact that contracts themselves are …

How does policy affect innovation and the digital economy? We revisit how standard product market regulation affects … innovation and develop a novel framework for thinking about digital regulation. Using new establishment-level micro-data across … that a standard deviation rise in standardized index of product market regulation is associated with a 1.029% decline in …

This paper analyzes the impact of financial regulation on the process of financial innovation. We use a discrete …

development using an example of two different enforcement models: one informal (RES) and one formal (SES). We find that, because …