New Working Paper
Keith Poole, Howard Rosenthal and I have spent the last couple of years working on a manuscript on the political economy of the financial crisis. That joint work has inspired my to write this paper modeling the effects of policy complexity on regulatory policymaking. Although the argument is formalized, it is a simple one. Policy will tend to be biased towards the interests of the regulated industry in areas where policymaking is complex. I hope the paper contributes some useful insights to financial market regulation.