Reforming Regulatory Analysis, Review, and Oversight: A Guide for the Perplexed

45 Pages Posted: 24 Aug 2014

See all articles by Jerry Ellig

Jerry Ellig

George Washington University - Regulatory Studies Center

Richard A. Williams

George Mason University - Mercatus Center

Date Written: August 15, 2014

Abstract

The number of regulations and their economic impact continue to grow. Yet the quality and use of economic analysis to inform regulatory decisions falls far short of the standards enunciated in executive orders governing regulatory analysis and review. Both the president and Congress have grappled in recent years with initiatives intended to reform the analytical requirements and oversight mechanisms that federal agencies must comply with when they propose and finalize regulations. Regulatory scholars have identified numerous additional provisions that could strengthen regulatory analysis, review, and oversight. This article summarizes proposals for change, explains their underlying rationales, and lists the pros and cons associated with each.

Keywords: administrative procedure, Administrative Procedure Act, regulation, regulatory reform, regulatory process, benefit-cost analysis, cost-benefit, regulatory impact analysis, regulatory review

JEL Classification: D61, D73, D78, H11, H83, K23, L51, P16

Suggested Citation

Ellig, Jerry and Williams, Richard A, Reforming Regulatory Analysis, Review, and Oversight: A Guide for the Perplexed (August 15, 2014). Mercatus Center at George Mason University Working Paper No. 14-23, Available at SSRN: https://ssrn.com/abstract=2485566 or http://dx.doi.org/10.2139/ssrn.2485566

Jerry Ellig (Contact Author)

George Washington University - Regulatory Studies Center ( email )

805 21st St. NW
Washington, DC 20052
United States
703-375-9410 (Phone)

Richard A Williams

George Mason University - Mercatus Center ( email )

3434 Washington Blvd., 4th Floor
Arlington, VA 22201
United States
703 993 4515 (Phone)

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