Commentary Archive

magnifying glass

2014: The Regulatory Year in Review

December 30, 2014

This commentary highlights ten important final rules U.S. federal agencies issued in 2014, from the Volcker Rule to Tier 3 and everything in between. Although the agencies predict each rule will offer substantial public benefits, each rule also has considerable expected costs, some of which outweigh the benefits.

Susan Dudley presenting

The Utility of Humility

December 09, 2014

What effect do regulations have on economic growth and well-being? In the United States, there is growing concern that our regulatory system has gone beyond the rules needed for an efficient, competitive market. Because of this concern, fundamental change is needed, the foundation of which must be greater humility. Without a counterfactual, it is impossible to know what a more restrained regulatory environment would have meant for economic growth and well-being, but available evidence suggests that the benefits of a simpler regulatory system that is targeted at problems that cannot be solved by other means could have enormous benefits for us and future generations.

Susan Dudley with Senator Portman

Reducing Regulatory Barriers to Transatlantic Trade

December 01, 2014

Regulatory systems that "promote competitive markets, secure property rights, and intervene to correct market failures rather than to increase state influence" are not only more conducive to greater economic growth and public welfare within countries, but they can support international trade and investment. As our economies become more global, and the EU and U.S. work to reduce tariffs and explicit trade barriers, regulations are emerging as more important and significant barriers to trade. Not only can poorly designed or conflicting regulations inhibit transatlantic trade and investment, but differences in regulatory policy and procedural approaches may continue to challenge economic partnerships between the EU and U.S. The success of the Transatlantic Trade and Investment Partnership (T-TIP) thus depends on strengthening EU-U.S. regulatory coherence, and reducing regulatory barriers to transatlantic trade and investment.