We develop a model to discuss a government's incentives to delegate to bureaucrats the regulation of an industry. The …-based regulation policy requires the government to make use of a bureaucracy; this has a bureaucratic cost, as the bureaucracy diverts … implications for when and how a government should delegate its regulation of industry. We find that bureaucratic discretion reduces …

and labour market regulation on the capital stock. Several alternative testing methods show that the negative influence of … product and labour market regulation is considerably stronger at higher levels. The paper uncovers important policy …

. Second, a TV channel might find it optimal to commit to not raising advertising revenue. Third, regulation of the advertising …

Much of the literature on externalities has considered taxes and direct regulation as alternative policy instruments … use of taxes and regulation in combination, to control externalities arising from individual consumption behaviour. We … level of direct regulation alters the optimal externality tax …

We consider environmental regulation in a context where firms invest in abatement technology under conditions of …

consumption options and show how optimal regulation evolves over time. In our base setting where social and private learning …

We develop a simple model of banking regulation with two policy instruments: minimum capital requirements and … regulation. Therefore, countries are better off by harmonising regulation on an international standard …

Strategic delegation to an independent regulator with a pure consumer standard improves dynamic regulation by …