Found 543 article(s) for author 'Regulation'

Reforming land use regulations

Reforming land use regulations. Edward Glaeser, April 22, 2017, Opinion, “Arguably, land use controls have a more widespread impact on the lives of ordinary Americans than any other regulation. These controls, typically imposed by localities, make housing more expensive and restrict the growth of America’s most successful metropolitan areas. These regulations have accreted over time with virtually no cost-benefit analysis. Restricting growth is often locally popular. Promoting affordability is hardly a financially attractive aim for someone who owns a home. Yet the maze of local land use controls imposes costs on outsiders, and on the American economy as a whole.Link

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Is the SEC Captured? Evidence from Comment-Letter Reviews

Is the SEC Captured? Evidence from Comment-Letter Reviews. Jonas Heese, Karthik Ramanna, April 8, 2017, Paper, “SEC oversight of publicly listed firms ranges from comment letter (CL) reviews of firms’ reporting compliance to pursuing enforcement actions against violators. Prior literature finds that firm political connections (PC) negatively predict enforcement actions, inferring SEC capture. We present new evidence that firm PC positively predict CL reviews and substantive characteristics of such reviews, including the number of issues evaluated and the seniority of SEC staff involved. These results, robust to identification concerns, are inconsistent with SEC capture and indicate a more nuanced relation between firm PC and SEC oversight than previously suggested.Link

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Impact of Reporting Frequency on UK Public Companies

Impact of Reporting Frequency on UK Public Companies. Robert Pozen, 2017, Paper, “Beginning in 2007, UK public companies were required to issue quarterly, rather than semiannual, financial reports. But the UK removed this quarterly reporting requirement in 2014. We studied the effects of these regulatory changes on UK public companies and found that the frequency of financial reports had no material impact on levels of corporate investment. However, mandatory quarterly reporting was associated with an increase in analyst coverage and an improvement in the accuracy of analyst earnings forecasts.Link

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Getting From Here to There: The Transition Tax Issue

Getting From Here to There: The Transition Tax Issue. Stephen Shay, March 27, 2017, Paper, “If there is fundamental U.S. international income tax reform, regardless of the reform option chosen, the United States must decide how to handle the $2.4 trillion to $2.6 trillion of previously untaxed foreign income accumulated by U.S. multinational corporations. In this report, Fleming, Peroni, and Shay argue that the proper approach is to treat the income as a subpart F inclusion in the year before the effective date of fundamental reform and to tax it at regular rates with an option to make the payments in installments that bear market-rate interest. The authors explain why the case for a low or deferred tax on this income is inferior to the case for full immediate taxation.Link

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Harvard’s Scott Says U.S. Has Latitude on Bank Reforms

Harvard’s Scott Says U.S. Has Latitude on Bank Reforms. Hal Scott, March 23, 2017, Video, “Hal Scott, Harvard Law School professor and president of Committee on Capital Markets Regulation, discusses the Trump administration’s approach to financial regulation and how it relates to the Federal Reserve and monetary policy. Scott is a potential candidate to be the next Vice Chair of the Federal Reserve. He speaks on “Bloomberg Surveillance.”Link

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Energy Market Shock Absorbers: Waiving Environmental Regulations in Response to Fuel Market Disruptions

Energy Market Shock Absorbers: Waiving Environmental Regulations in Response to Fuel Market Disruptions. Joseph Aldy, March 23, 2017, Paper, “As a result, such volatility can have important political implications. Energy price volatility has historically reflected geopolitical events around the world. But recently in the United States, natural disasters, policy design and implementation, and competition in markets have contributed to volatility in U.S. energy price.Link

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Carbon Prices, Preferences, and the Timing of Uncertainty

Carbon Prices, Preferences, and the Timing of Uncertainty. William Hogan, March 6, 2017, Paper, “$40 revised July 2015 Social Cost of CO2, from “Technical Update of the Social Cost of Carbon for Regulatory Impact Analysis Under Executive Order 12866.” (U. S. Government Interagency Working Group on Social Cost of Carbon, 2016) Based on 3% constant discount rate, and an average of 3 climate-economy models, including DICE.Link

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Defending Worldwide Taxation with a Shareholder-Based Definition of Corporate Residence

Defending Worldwide Taxation with a Shareholder-Based Definition of Corporate Residence. Stephen Shay, March 5, 2017, Paper, “This Article argues that a principled, efficient, and practical definition of corporate residence is necessary even if some form of corporate integration is adopted, and that such a definition is a key element in designing either a real worldwide or a territorial income tax system as well as a potential restraint on the inversion phenomenon. The Article proposes that the United States adopt a shareholder-based definition of corporate residence that is structured as follows:…Link

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Trump’s Safe and Sane ‘Regulatory Reform’ Idea

Trump’s Safe and Sane ‘Regulatory Reform’ Idea. Cass Sunstein, March 3, 2017, Opinion, “In one of his few statements since joining government, presidential adviser Stephen Bannon announced that one of the Trump administration’s principal goals was “the deconstruction of the administrative state.” Given the critical role of federal agencies in protecting public health and safety, that’s pretty provocative. But President Donald Trump’s latest action suggests that reform is the aim, rather than deconstruction — and the reform might even turn out to be reasonable.Link

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