Government regulations seek to improve the health, safety, and financial and economic well-being of Americans. Regulations can lead to more efficient and equitable markets, benefiting society, but if they are not formulated and implemented carefully, they can inhibit markets, impose costs on consumers and businesses, and impede innovation and technological advance. Regulation has evolved to encompass virtually every aspect of microeconomic policy, including finance, health, intellectual property, local land use, and even social policy, as lawmakers increasingly delegate policymaking powers to regulatory agencies.
Regulations are rarely eliminated; instead, they tend to multiply and become more complex. The expanding scope of regulations at the local, state, national, and even international levels warrants expanded examination of their effects—both intended and unintended—and techniques to ensure they are achieving their aims while minimizing costs.
The goal of the Center on Regulation and Markets is to inform and improve regulatory policymaking by providing independent scholarly insights on regulatory performance and the regulatory process, and on the efficient and equitable functioning of economic markets by convening academic experts, practitioners, and policymakers; by making recommendations, where appropriate, for regulatory reform; and by communicating findings to the public and to policymakers. It will address this need for impartial, non-partisan, academically-based analysis on a wide array of critical regulatory issues, aimed at providing concrete and practical recommendations for reform.
The Center on Regulation and Markets at Brookings provides independent, non-partisan research on regulatory policy, applied broadly across microeconomic fields. It creates and promotes independent economic scholarship to inform regulatory policymaking, the regulatory process, and the efficient and equitable functioning of economic markets.
The Center on Regulation and Markets is supported by institutional and endowment support, including endowed chairs in Economics Studies; Economic Studies general operating support; State Farm general operating support for the Center on Regulation and Markets; the Searle Freedom Trust Senior Fellowship; the Smith Richardson Foundation; and the Alfred P. Sloan Foundation.
The Center on Regulation and Markets Advisory Council
Judith A. Chevalier, Chair
William S. Beinecke Professor of Finance and Economics, Yale School of Management
Professor of Economics, University of Chicago Booth School of Business
Leemore S. Dafny
Bruce V. Rauner Professor of Business Administration, Harvard Business School
Associate Professor, UC Berkeley
Robert E. Litan
Non-Resident Senior Fellow, Brookings Institution
Professor of Public Policy and Corporate Management in the Aetna Chair, Harvard Kennedy School
Professor of Economics and Public Affairs, Princeton University
Nancy L. Rose
Head of Department of Economics, MIT
Associate Professor of Business Economics and Public Policy, University of Pennsylvania Wharton School