A well-known regulation on the management of a closed-end mutual fund is that the managers’ account cannot invest in … risky assets. This paper studies the impact of this regulation under a given management fee structure such that the …’s welfare is approximately the same whether the regulation exists or not. In the expected utility maximization framework, we …

This article analyzes the capital account regulation (CAR) applied in Iceland after the banking crash of October 2008 … group of countries that have historically resorted to CAR. Our main conclusions are that capital account regulation has been …

freely chosen in some markets, for example due to regulation. We use our identification strategy to study the effects of … whether regulation in France truly affects margins and prices and relate regulatory reforms to industry pricing equilibrium …. Counterfactual simulations show that total spending significantly increased because of the new price regulation by displacing part of …

regulation. With the entrenchment of the Directives for the European Union in December 2010 and the implementation into national … regulation should ensure remuneration policies and structures to be aligned with an effective risk management. The financial …

on financial market stability in the aftermath of financial crisis. The research will point out lessons learned from the … financial crisis and point at key international initiatives and necessary improvements in the field of regulation and conduct of …

Use of microdata is severely hampered in many areas of research. This is in particular true for data from statistical …