| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14377 |
| 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 |
| URL | https://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. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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