G2TT
来源类型Discussion paper
规范类型论文
来源IDDP14377
DP14377 Measuring Regulatory Complexity
Jean-Edouard Colliard; Co-Pierre Georg
发表日期2020-02-02
出版年2020
语种英语
摘要Despite a heated debate on the perceived increasing complexity of financial regulation, there is no available measure of regulatory complexity other than the mere length of regulatory documents. To fill this gap, we propose to apply simple measures from the computer science literature by treating regulation like an algorithm: a fixed set of rules that determine how an input (e.g., a bank balance sheet) leads to an output (a regulatory decision). We apply our measures to the regulation of a bank in a theoretical model, to an algorithm computing capital requirements based on Basel I, and to actual regulatory texts. Our measures capture dimensions of complexity beyond the mere length of a regulation. In particular, shorter regulations are not necessarily less complex, as they can also use more "high-level" language and concepts. Finally, we propose an experimental protocol to validate measures of regulatory complexity.
主题Financial Economics
关键词Financial regulation Capital regulation Regulatory complexity Basel accords
URLhttps://cepr.org/publications/dp14377
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/543271
推荐引用方式
GB/T 7714
Jean-Edouard Colliard,Co-Pierre Georg. DP14377 Measuring Regulatory Complexity. 2020.
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