Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 2020 erstellt
Beschreibung:
We investigate the effect of recent regulatory growth on operating costs per unit of output across a variety of US industries. Using an Augmented Mean Group estimator approach, we find that regulations in the current year and four to five years prior have statistically significant upward effects on operating costs per unit of output. This suggests that the most pronounced effects of regulations occur when a regulation is passed and when compliance dates arrive. Our results imply that the average level of annual regulatory growth (3.55 percent) increases operating costs per unit of output by 3.3 percentage points per year relative to a baseline of no regulatory growth