We assembled a database consisting of fifty two regulatory decisions, involving two hundred and fifty four annual observations, made by seven different regulators and across five different industries. For each of these observations we construct a variable that represents the proportion of the...

We assembled a database consisting of fifty-two regulatory decisions, spanning two hundred and fifty-four annual observations, made by seven different regulators and across five different industries. For each of these observations, we construct a variable that represents the proportion of the...

This paper develops an empirical strategy to measure maverick-like behaviour. It applies the strategy to a dataset that contains interest rates charged by mortgage providers in Australia from January 2003 to October 2006. The Reserve Bank of Australia raised its cash rate five times in this...

Assets with a value of over $130billion are regulated in Australia. We define regulatory risk as being regulation that increases the cost of servicing this capital and analyse the sources of this risk. We show that unbiased and symmetric errors will generally create asymmetric risk for the firm,...