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Regulatory Finance in Alternative Models of Regulation
General Fund Financing Versus Earmarked Taxation
Originally published in European Journal of Political Economy
Nowhere in studies of regulation does one confront the issue of how to account for the costs of the regulator's services. In this paper the authors treat the cost of the regulator as an integral component of the positive theory of regulation. In particular, the study examines what difference it makes whether the cost of the regulator is financed through general-fund appropriations or through special charges imposed upon the regulated activity.
Nowhere in studies of regulation does one confront the issue of how to account for the costs of the regulator's services. In this paper the authors treat the cost of the regulator as an integral component of the positive theory of regulation. In particular, the study examines what difference it makes whether the cost of the regulator is financed through general-fund appropriations or through special charges imposed upon the regulated activity.
Read the article at ScienceDirect.
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