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Focusing More on Outputs and on Markets: What Financial Regulation Can Learn from Progress in Other Policy Areas

Lawrence J. White
New York University - Leonard N. Stern School of Business

November 2006

Networks Financial Institute Policy Brief No. 2006-PB-18

Abstract:
This paper draws on the progress that has occurred in other areas of regulation - specifically, the cap-and-trade program to control SO2 emissions; spectrum auctions; and dedicated-access-privilege programs for fisheries - to suggest that financial regulation would benefit from an expanded focus on outputs and on markets.

Keywords: Financial regulation, command-and-control, technology standards, performance standards, cap-and-trade, auctions, dedicated access privilege

JEL Classifications: G18, G28, G38

Working Paper Series

Date posted: November 29, 2006 ; Last revised: November 29, 2006

Suggested Citation

White, Lawrence J., Focusing More on Outputs and on Markets: What Financial Regulation Can Learn from Progress in Other Policy Areas (November 2006). Networks Financial Institute Policy Brief No. 2006-PB-18 . Available at SSRN: http://ssrn.com/abstract=947895

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Contact Information

Lawrence J. White (Contact Author)

New York University - Leonard N. Stern School of Business ( email )

44 West 4th Street
New York, NY 10012
United States