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Author: Nancy L. Rose
Publisher: University of Chicago Press
ISBN: 022613816X
Category : Business & Economics
Languages : en
Pages : 619
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Book Description
The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Author: Nancy L. Rose
Publisher: University of Chicago Press
ISBN: 022613816X
Category : Business & Economics
Languages : en
Pages : 619
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Book Description
The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Author: Stephen Breyer
Publisher: Harvard University Press
ISBN: 9780674753761
Category : Law
Languages : en
Pages : 490
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Book Description
On its Surface, this book is aimed at the topical issue of regulatory reform. But underneath it strives to go beyond the topical, seeking to analyze regulation as a distinct discipline and to help teach it as a separate subject.
Author: John Bitzan
Publisher: Academic Press
ISBN: 0128126213
Category : Social Science
Languages : en
Pages : 380
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Book Description
Transportation Policy and Economic Regulation: Essays in Honor of Theodore Keeler addresses a number of today's important transportation policy issues, exploring a variety of transportation modes, and examining the policy implications of a number of alternatives. Theodore Keeler had a distinguished career in transportation economics, helping to shape regulatory policies concerning the transportation industries and assessing the appropriateness of various policies. A distinguishing feature of his work is that it always had policy implications. As a tribute to Theodore Keeler, this book examines transportation policy issues across a variety of transportation industries, including aviation, railroads, highways, motor carrier transport, automobiles, urban transit, and ocean shipping. The book evaluates the economic impact and effectiveness of various policies, employing empirical analyses and new estimation techniques, such as Bayesian analysis. The book is designed for transportation professionals and researchers, as well as transportation economics students, providing an in-depth analysis of some of today's important transportation policy issues. Policy changes established in the last 35-40 years have introduced profound changes in the business environment of the transportation industry. Past policy changes promoted the free market's role in setting prices and determining service availability. While 21st century policy has focused on a variety of other issues, such as safety, road and air congestion, productivity growth, labor relations and exhaust emission, many still promote the role of competition. In addition to examining various transportation policy issues in the U.S., the book explores some approaches to dealing with transportation issues in different parts of the world. Contemporary transportation policy debates have broadened from their initial focus of primarily examining the merits of reforming economic regulations at national levels, to now examining a variety of issues such as alternative methods of social regulation (such as safety regulation and emission controls), new approaches to changing economic regulations, the potential for reforming international regulations, and the appropriate role for government in transportation. - Examines transportation policy developments across a variety of modes, including some international analysis - Shows how new policy changes, such as changes in regulation, affect overall transportation system performance - Features chapters that use innovative methodologies, such as Bayesian techniques, qualitative analysis, and an attribute-incorporated Malmquist productivity index - Examines the ways that policy impacts depend on a variety of factors, and shows how economic tools can be used to gain greater insights into the likely impacts of policy and the desirability of various policies - Analyzes transport prices, quality of service, safety, the use of information technology and operating issues, highlighting how transportation enhances quality of life
Author: Edward J. Balleisen
Publisher: Cambridge University Press
ISBN: 0521118484
Category : Business & Economics
Languages : en
Pages : 579
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Book Description
After two generations of emphasis on governmental inefficiency and the need for deregulation, we now see growing interest in the possibility of constructive governance, alongside public calls for new, smarter regulation. Yet there is a real danger that regulatory reforms will be rooted in outdated ideas. As the financial crisis has shown, neither traditional market failure models nor public choice theory, by themselves, sufficiently inform or explain our current regulatory challenges. Regulatory studies, long neglected in an atmosphere focused on deregulatory work, is in critical need of new models and theories that can guide effective policy-making. This interdisciplinary volume points the way toward the modernization of regulatory theory. Its essays by leading scholars move past predominant approaches, integrating the latest research about the interplay between human behavior, societal needs, and regulatory institutions. The book concludes by setting out a potential research agenda for the social sciences.
Author: Mark Armstrong
Publisher: MIT Press
ISBN: 9780262510790
Category : Business & Economics
Languages : en
Pages : 414
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Book Description
Tackles the important issue of how to regulate firms with market power.
Author: David A. Moss
Publisher: The Tobin Project
ISBN: 0982478801
Category : Business & Economics
Languages : en
Pages : 169
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Book Description
As an experiment in reconnecting academia to the broader democracy, this work is designed to invigorate public policy debate by rededicating academic work to the pursuit of solutions to society's great problems.
Author: David Starkie
Publisher: Ashgate Publishing, Ltd.
ISBN: 9780754673880
Category : Transportation
Languages : en
Pages : 252
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Book Description
This volume is a collection of 17 papers selected from David Starkie's extensive writings over the last 25 years. Previously published material has been extensively edited and adapted and combined with new material, published here for the first time. The book is divided into five sections, each featuring an original overview chapter, to better establish the background and also explain the papers' wider significance including, wherever appropriate, their relevance to current policy issues. These papers have been selected to illustrate a significant theme that has been relatively neglected thus far in both aviation and industrial economics: the role of the market and its interplay with the development of economic policy in the context of a dynamic but partly price regulated industry. The result provides a strong flavour of how market mechanisms, and particularly competition, can operate to successfully resolve policy issues.
Author: Andrei Shleifer
Publisher:
ISBN: 9780262016957
Category : Administrative procedure
Languages : en
Pages : 0
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Book Description
Government regulation is ubiquitous today in rich and middle-income countries--present in areas that range from workplace conditions to food processing to school curricula--although standard economic theories predict that it should be rather uncommon. In this book, Andrei Shleifer argues that the ubiquity of regulation can be explained not so much by the failure of markets as by the failure of courts to solve contract and tort disputes cheaply, predictably, and impartially. When courts are expensive, unpredictable, and biased, the public will seek alternatives to dispute resolution. The form this alternative has taken throughout the world is regulation. The Failure of Judges and the Rise of Regulators gathers Shleifer's influential writings on regulation and adds to them a substantial introductory essay in which Shleifer critiques the standard theories of economic regulation and proposes "the Enforcement Theory of Regulation," which sees regulation as the more efficient strategy for social control of business. Subsequent chapters present the theoretical and empirical case against the efficiency of courts, make the historical and theoretical case for the comparative efficiency of regulation, and offer two empirical studies suggesting circumstances in which regulation might emerge as an efficient solution to social problems. Shleifer does not offer an unconditional endorsement of regulation and its expansion but rather argues that it is better than its alternatives, particularly litigation.
Author: Howard Davies
Publisher: John Wiley & Sons
ISBN: 0745688322
Category : Political Science
Languages : en
Pages : 136
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Book Description
The Global Financial Crisis overturned decades of received wisdomon how financial markets work, and how best to keep them in check.Since then a wave of reform and re-regulation has crashed overbanks and markets. Financial firms are regulated as neverbefore. But have these measures been successful, and do they go farenough? In this smart new polemic, former central banker andfinancial regulator, Howard Davies, responds with a resounding‘no’. The problems at the heart of the financial crisisremain. There is still no effective co-ordination of internationalmonetary policy. The financial sector is still too big and,far from protecting the economy and the tax payer, recentgovernment legislation is exposing both to even greater risk. To address these key challenges, Davies offers a radicalalternative manifesto of reforms to restore market discipline andcreate a safer economic future for us all.
Author: Adam Hoffer
Publisher:
ISBN: 9781734856125
Category :
Languages : en
Pages :
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Book Description
