The failure of Enron and subsequent demise of Arthur Andersen led to significant changes for public reporting and auditing but not much change in the concentration of audit market power among the remaining Big Four global firms: Deloitte, Ernst & Young, KPMG, and PwC.
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A new Stigler Center case study chronicling the story of Chile’s first crowdfunding platform and its early regulatory challenges illustrates how financial regulations can be effectively used by incumbents to stifle competition.
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A new study argues that the Federal Reserve could have saved Lehman Brothers from bankruptcy, but chose not to, partly because of political pressures.
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The financial crisis—and the limits of our regulatory response to the crash—offer important lessons for our broader understandings of how to conceptualize and institutionalize economic governance in an era of economic and political inequality.
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Ben-Artzi: “The problem is not that you have misbehavior on Wall Street. It’s that you have misbehavior by the people who are supposed to enforce the law, by the prosecutors, by the regulators.”
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The problem of rising healthcare costs cannot be fixed by the current prescription of redistributive policies. Policymakers must redirect their focus.
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In the past four years, China has been waging the biggest anticorruption campaign in its modern history. Is it working?
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Stanford professor Anat Admati discusses her new paper, in which she explains how a mix of distorted incentives, ignorance, confusion, and lack of accountability contributes to the persistence of a dangerous and poorly regulated financial system.
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The most fruitful avenue for reducing regulatory capture is to impose more checks-and-balances on our agencies, reversing recent trends toward expediency.
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Maurice E. Stucke from the University of Tennessee Knoxville and Ariel Ezrachi of Oxford University explain how big data and artificial intelligence can be used to facilitate collusion and potentially harm consumers. The first part of a two-part interview.
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Contrary to what Federal Trade Commissioner Maureen Ohlhausen says, there is in fact no meaningful proof that consolidation generates social benefits.
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In most states, health care providers who seek to open a new hospital must obtain a “certificate of need” (CON) from a state board certifying that there is an “economic necessity” for their services. A new working paper published by the Mercatus Center finds that states with CON laws spend 3 percent more on health care than other states.
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