This chapter discusses alternative approaches to measure the effects of economic regulation and reviews the empirical literature employing these approaches. Economic regulation refers to both the direct legislation and administrative regulation of prices and entry into specific industries or...

"Prepared for the Brookings Microeconomics Conference, December 11-12, 1992."

This study explores the effect of regulatory and political constraints on the level of CEO compensation for 87 state-regulated electric utilities during 1978-1990. The results suggest that political pressures may constrain top executive pay levels in this industry. First, CEOs of firms operating...