Economic Regulation

Research

The Employment Costs of Regulation Keith Hall \| Mar 19, 2013 Concern over the impact of regulations on jobs and job growth is not new, but the efforts of federal agencies to forecast the likely impact of regulatory changes have never focused effectively on labor market impacts.	The Economic Situation, March 2013 Bruce Yandle \| Mar 01, 2013 There was only one lane open as I made my trip to Atlanta; the other three were blocked with those unhappy yellow and black make-believe barrels used by the highway folks. Traffic flow was constrained by efforts to repair potholes and broken pavement. We in the slow lane had little choice in the matter. Instead of 70, we were slowed to 20 miles per hour. We had to accept our fate, or find another route at the next exit.
Evaluating Risk-Based Capital Regulation Thomas L. Hogan, Neil Meredith, Xuhao Pan \| Jan 29, 2013 The authors evaluate the capital and RBC ratios of US commercial banks from 2001 through 2011 and find the standard capital ratio to be a significantly better predictor of bank performance than the RBC ratio. The results have significant implications for US banking regulation.	The Alternative of Private Regulation: The London Stock Exchange's Alternative Investment Market as a Model Edward Stringham, Ivan Chen \| Oct 18, 2012 A system of private regulation gives more firms access to capital markets and more choices to investors, and it can be viewed as a model for other markets to follow.
RegData: The Industry-Specific Regulatory Constraint Database (IRCD) Omar Ahmad Al-Ubaydli, Patrick McLaughlin \| Oct 15, 2012 The Industry-specific Regulatory Constraint Database (IRCD) is a new database that quantifies federal regulation. IRCD offers a novel and objective measure of the accumulation of regulations in the economy overall and for all the different industries in the U.S. IRCD uses text analysis to count the number of binding constraints in the text of federal regulations, which are codified in the Code of Federal Regulations (CFR). In addition, it measures the degree to which different groups of regulations target specific industries.	Regulation and the International Competitiveness of the U.S. Economy Steven Globerman, George Georgopoulos \| Sep 18, 2012 The available evidence indicates that U.S. international competitiveness has deteriorated by certain measures and suggests that future—and potentially more economically significant—declines may be anticipated. Evidence also identifies deterioration in the U.S. regulatory environment relative to other developed economies.

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Testimony & Comments

Public Interest Comment on DOL Fair Labor Standards Rule Antony Dnes \| Feb 27, 2012 This Public Interest Comment analyzes proposed changes to Fair Labor Standards Act (FLSA) regulations that would expand the scope of the regulations to include live-in home-care workers and other domestic services and suggests that the compliance costs of these changes cannot be justified for the proposals.	Improving Pre-Proposal Regulatory Analysis Jerry Ellig \| Mar 29, 2011 Jerry Ellig testified before the House Judiciary Committee on improving pre-proposal regulatory analysis.
Competition, Consumer Welfare and State Alcohol Regulation Jerry Ellig \| Sep 29, 2010 The Commerce Clause allows states to discriminate against interstate commerce if they have actual evidence that such discrimination is necessary to accomplish a legitimate state goal that cannot…	Public Interest Comment on Notice of Proposed Rulemaking to Set National Emission Standards for Hazardous Air Pollutants for Area Sources: Industrial, Commercial, and Institutional Boilers Mark Adams \| Aug 23, 2010 The boiler rule proposed by EPA is expected to generate net benefits, but the Regulatory Impact Analysis prepared by the agency fails to identify the benefits attributable to individual portions of the rule or how a more or less stringent rule would change costs and benefits.
SBA's Small Business Regulatory Review and Reform Initiative \| Dec 21, 2007 This public interest comment provides suggestions to the SBA in response to the Regulatory Review and Reform Initiative, which is designed to identify and address existing federal regulations…	Executive Pay and the Role of Compensation Consultants Houman Shadab \| Dec 05, 2007 Mercatus Senior Research Fellow Houman B. Shadab delivered this testimony before the House Committee on Oversight and Government Reform. Shadab discusses the academic law and economic literature…

Research Summaries & Toolkits

Helping the Poor Without Hurting the Recovery Mark Adams \| Mar 04, 2013 The president’s recent proposal to increase the minimum wage to $9.00 is not the way to help low-income households. Raising the minimum wage is more likely to increase unemployment for some of the least skilled American workers and further impede a historically slow recovery. Research from the Mercatus Center shows that regulatory reform would help low-income families without causing more unemployment or slowing the recovery.	A Process for Cleaning Up Federal Regulations Joshua C. Hall, Michael Williams \| Feb 05, 2013 The concern that American businesses are overly burdened by regulations has legitimate grounds. In 2011, American companies had to comply with over 1 million federal regulatory restrictions, compared with about 860,000 a decade earlier.[1] However, to truly address concerns about overregulation, policy makers cannot focus exclusively on the growth of new regulations. Attention must also be paid to the lack of an efficient and effective regulatory review process for preexisting rules.
Mercatus Center Policy Guide \| Aug 03, 2012 The Mercatus Center at George Mason University is pleased to provide you with our new policy guide. The guide is designed to provide easily accessible economic information that might prove useful in pre- paring for hearings or town hall meetings, drafting speeches or policy papers, and generally educating the public regarding spending, taxes, regulation, financial markets, and technology policy.	Energy Regulations: Protecting "Irrational" Consumers From Themselves? Ted Gayer, W. Kip Viscusi \| Aug 01, 2012 In recent years, federal agencies have issued energy-efficiency standards for everything from cars to light bulbs. These regulations are commonly billed as important efforts to reduce greenhouse gases. But, according to a new study published by the Mercatus Center at George Mason University, the standards have a negligible effect on emissions.
The Myth of "Deregulation" in Air Transportation Kenneth Button \| May 17, 2012 A new Mercatus Center study looks at the evolution and outcomes of government regulations in air transportation since the 1978 law was enacted.	Do More Regulations Equal Less Safety? \| Nov 30, 2011 This research summary addresses whether more regulations lead to less safety. Psychology, economics, and organizational science suggest that too many regulations—particularly highly detailed regulations—may make society less, rather than more, safe.

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Speeches & Presentations

Regulation and High Reliability Organizations

Jerry Ellig | May 28, 2009

Jerry Ellig presents before the Department of Energy, Office of Health, Safety and Security in the Visiting Speakers Program about regulation in high reliability organizations, such as…

Mercatus Regulatory Studies

Charts

Environmental Benefits of Energy Regulations Are Negligible

The largest claimed benefit of energy-efficiency regulations is based on the agencies' presumption that consumers and firms make irrational purchasing decisions and therefore gain when regulations restrict their choices.

Experts

Jerry Brito

Jerry Brito is a senior research fellow at the Mercatus Center and directs the Technology Policy Program. His primary research interests are technology and telecommunications policy, government transparency and accountability, and the regulatory process.

James Broughel

James Broughel is a program manager of the Regulatory Studies Program at the Mercatus Center. Mr. Broughel is a doctorate student in the economics program at George Mason University. He earned his MA in economics from Hunter College of the City University of New York.

Susan Dudley

Susan Dudley directs the George Washington University Regulatory Studies Center and is a Research Professor in the Trachtenberg School of Public Policy & Public Administration.

Arnold Kling

Arnold Kling is an affiliated senior scholar at the Mercatus Center at George Mason University where he is also a member of the Financial Markets Working Group. He draws on his experience at Freddie Mac and the Federal Reserve to increase understanding of monetary policy, the regulation “anomaly,” and the inside workings of America's federal financial institutions.

Michael L. Marlow

Michael L. Marlow is an affiliated senior scholar at the Mercatus Center at George Mason University and professor of economics and distinguished scholar at California Polytechnic State University, San Luis Obispo.

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Videos

The Future of Regulations: Moving From Presumption to Proof

Matthew Mitchell, Keith Hall, Jerry Ellig, Patrick McLaughlin, Hester Peirce, Scott Jacobs | November 13, 2012

Ask Veronique Anything: Why Are You Against Tighter Regulations?

Veronique de Rugy | July 03, 2012

Podcasts

Regulation University: Dodd-Frank: What It Does and Why It's Flawed

Hester Peirce | April 09, 2013

Hester Peirce Discusses Dodd Frank at this Regulation University event.

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Recent Events

Capitol Hill Campus: Dodd-Frank: What It Does and Why It's Flawed

Please join the Mercatus Center at George Mason University for a new Capitol Hill Campus exploring a prime example of this type of regulation, the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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Books

Regulation: A Primer

Susan Dudley, Jerry Brito | Aug 14, 2012

Federal regulations affect nearly every area of our lives and interest in them is increasing. However, many people have no idea how regulations are developed or how they impact our lives. Regulation: A Primer by Susan Dudley and Jerry Brito provides an accessible overview of regulatory theory, analysis, and practice.

More Media Clippings

The Employment Costs of Regulation Keith Hall \| Mar 19, 2013 Concern over the impact of regulations on jobs and job growth is not new, but the efforts of federal agencies to forecast the likely impact of regulatory changes have never focused effectively on labor market impacts.	The Economic Situation, March 2013 Bruce Yandle \| Mar 01, 2013 There was only one lane open as I made my trip to Atlanta; the other three were blocked with those unhappy yellow and black make-believe barrels used by the highway folks. Traffic flow was constrained by efforts to repair potholes and broken pavement. We in the slow lane had little choice in the matter. Instead of 70, we were slowed to 20 miles per hour. We had to accept our fate, or find another route at the next exit.
Evaluating Risk-Based Capital Regulation Thomas L. Hogan, Neil Meredith, Xuhao Pan \| Jan 29, 2013 The authors evaluate the capital and RBC ratios of US commercial banks from 2001 through 2011 and find the standard capital ratio to be a significantly better predictor of bank performance than the RBC ratio. The results have significant implications for US banking regulation.	The Alternative of Private Regulation: The London Stock Exchange's Alternative Investment Market as a Model Edward Stringham, Ivan Chen \| Oct 18, 2012 A system of private regulation gives more firms access to capital markets and more choices to investors, and it can be viewed as a model for other markets to follow.
RegData: The Industry-Specific Regulatory Constraint Database (IRCD) Omar Ahmad Al-Ubaydli, Patrick McLaughlin \| Oct 15, 2012 The Industry-specific Regulatory Constraint Database (IRCD) is a new database that quantifies federal regulation. IRCD offers a novel and objective measure of the accumulation of regulations in the economy overall and for all the different industries in the U.S. IRCD uses text analysis to count the number of binding constraints in the text of federal regulations, which are codified in the Code of Federal Regulations (CFR). In addition, it measures the degree to which different groups of regulations target specific industries.	Regulation and the International Competitiveness of the U.S. Economy Steven Globerman, George Georgopoulos \| Sep 18, 2012 The available evidence indicates that U.S. international competitiveness has deteriorated by certain measures and suggests that future—and potentially more economically significant—declines may be anticipated. Evidence also identifies deterioration in the U.S. regulatory environment relative to other developed economies.

Public Interest Comment on DOL Fair Labor Standards Rule Antony Dnes \| Feb 27, 2012 This Public Interest Comment analyzes proposed changes to Fair Labor Standards Act (FLSA) regulations that would expand the scope of the regulations to include live-in home-care workers and other domestic services and suggests that the compliance costs of these changes cannot be justified for the proposals.	Improving Pre-Proposal Regulatory Analysis Jerry Ellig \| Mar 29, 2011 Jerry Ellig testified before the House Judiciary Committee on improving pre-proposal regulatory analysis.
Competition, Consumer Welfare and State Alcohol Regulation Jerry Ellig \| Sep 29, 2010 The Commerce Clause allows states to discriminate against interstate commerce if they have actual evidence that such discrimination is necessary to accomplish a legitimate state goal that cannot…	Public Interest Comment on Notice of Proposed Rulemaking to Set National Emission Standards for Hazardous Air Pollutants for Area Sources: Industrial, Commercial, and Institutional Boilers Mark Adams \| Aug 23, 2010 The boiler rule proposed by EPA is expected to generate net benefits, but the Regulatory Impact Analysis prepared by the agency fails to identify the benefits attributable to individual portions of the rule or how a more or less stringent rule would change costs and benefits.
SBA's Small Business Regulatory Review and Reform Initiative \| Dec 21, 2007 This public interest comment provides suggestions to the SBA in response to the Regulatory Review and Reform Initiative, which is designed to identify and address existing federal regulations…	Executive Pay and the Role of Compensation Consultants Houman Shadab \| Dec 05, 2007 Mercatus Senior Research Fellow Houman B. Shadab delivered this testimony before the House Committee on Oversight and Government Reform. Shadab discusses the academic law and economic literature…

Helping the Poor Without Hurting the Recovery Mark Adams \| Mar 04, 2013 The president’s recent proposal to increase the minimum wage to $9.00 is not the way to help low-income households. Raising the minimum wage is more likely to increase unemployment for some of the least skilled American workers and further impede a historically slow recovery. Research from the Mercatus Center shows that regulatory reform would help low-income families without causing more unemployment or slowing the recovery.	A Process for Cleaning Up Federal Regulations Joshua C. Hall, Michael Williams \| Feb 05, 2013 The concern that American businesses are overly burdened by regulations has legitimate grounds. In 2011, American companies had to comply with over 1 million federal regulatory restrictions, compared with about 860,000 a decade earlier.[1] However, to truly address concerns about overregulation, policy makers cannot focus exclusively on the growth of new regulations. Attention must also be paid to the lack of an efficient and effective regulatory review process for preexisting rules.
Mercatus Center Policy Guide \| Aug 03, 2012 The Mercatus Center at George Mason University is pleased to provide you with our new policy guide. The guide is designed to provide easily accessible economic information that might prove useful in pre- paring for hearings or town hall meetings, drafting speeches or policy papers, and generally educating the public regarding spending, taxes, regulation, financial markets, and technology policy.	Energy Regulations: Protecting "Irrational" Consumers From Themselves? Ted Gayer, W. Kip Viscusi \| Aug 01, 2012 In recent years, federal agencies have issued energy-efficiency standards for everything from cars to light bulbs. These regulations are commonly billed as important efforts to reduce greenhouse gases. But, according to a new study published by the Mercatus Center at George Mason University, the standards have a negligible effect on emissions.
The Myth of "Deregulation" in Air Transportation Kenneth Button \| May 17, 2012 A new Mercatus Center study looks at the evolution and outcomes of government regulations in air transportation since the 1978 law was enacted.	Do More Regulations Equal Less Safety? \| Nov 30, 2011 This research summary addresses whether more regulations lead to less safety. Psychology, economics, and organizational science suggest that too many regulations—particularly highly detailed regulations—may make society less, rather than more, safe.