What Is the 'Cost per Regulator' on GDP and Private Sector Job Creation? An Update on Prior Research

Phoenix Center Perspectives No. 17-01

7 Pages Posted: 5 May 2017

See all articles by George S. Ford

George S. Ford

Phoenix Center for Advanced Legal & Economic Public Policy Studies

Hyeongwoo Kim

Auburn University

Lawrence J. Spiwak

Phoenix Center for Advanced Legal & Economic Public Policy Studies

Date Written: February 22, 2017

Abstract

Each $1 million change in the regulatory budget is associated with a change of about four regulator jobs. With our new update, we now find that a 10% cut in the regulatory budget results in a loss of 21,756 regulatory jobs. Given the average jobs impact of 3 million jobs over the five-year horizon, our updated analysis finds that one regulator costs the U.S. economy the equivalent of 138 private sector jobs per year. Each regulator costs the U.S. economy $11 million annually.

Keywords: Regulation, Regulatory Burden, Cost per Regulator, Costs of Regulation

JEL Classification: G18

Suggested Citation

Ford, George S. and Kim, Hyeongwoo and Spiwak, Lawrence J., What Is the 'Cost per Regulator' on GDP and Private Sector Job Creation? An Update on Prior Research (February 22, 2017). Phoenix Center Perspectives No. 17-01 , Available at SSRN: https://ssrn.com/abstract=2963287 or http://dx.doi.org/10.2139/ssrn.2963287

George S. Ford (Contact Author)

Phoenix Center for Advanced Legal & Economic Public Policy Studies ( email )

5335 Wisconsin Avenue, NW
Suite 440
Washington, DC 20015
United States

Hyeongwoo Kim

Auburn University ( email )

138 Miller
Auburn University
Auburn, AL 36849
United States
+1-334-844-2928 (Phone)

HOME PAGE: http://https://sites.google.com/site/hkimphd/

Lawrence J. Spiwak

Phoenix Center for Advanced Legal & Economic Public Policy Studies ( email )

5335 Wisconsin Avenue, NW
Suite 440
Washington, DC 20015
United States
202-274-0235 (Phone)
202-318-4909 (Fax)

HOME PAGE: http://www.phoenix-center.org

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
13
Abstract Views
417
PlumX Metrics