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

摘要: This paper draws on the progress that has occurred in other areas of regulation - specifically, "cap-and-trade" program to control SO2 emissions; spectrum auctions; and "dedicated-access-privilege" programs for fisheries -- suggest financial would benefit from an expanded focus outputs markets. About Author: Lawrence J. White is Arthur E. Imperatore Professor Economics at New York University's Stern School Business Deputy Chair Department Stern. He currently General Editor The Review Industrial Organization. author S&L Debacle: Public Policy Lessons Bank Thrift Regulation (1991) articles leading economics law journals.