Market Regulation: Origins and Cultural Perspectives

Susan M. Phillips and Blu Putnam

Chapter 8 in Economics Gone Astray, 2019, pp 95-107 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The regulation of derivative markets in the US focuses on protecting individual investors from fraud and criminal activity, assuring the integrity of markets and safeguarding the economy against systematic risk emanating from the financial sector. These three critical objectives are not embedded in one regulatory authority, but are instead distributed across several institutions with very different origins and priorities, based in no small way on the historical context that led to their creation. That is, to appreciate the sources of different regulatory philosophies among the major regulators of derivative markets in the US, one has to examine why each institution was brought into existence and how that shaped its specific regulatory style and priorities…

Keywords: Economics; Macroeconomics; Monetary Policy; Fiscal Policy; Inflation; Risk Management; Federal Reserve; Quantitative Easing; Taylor Rule (search for similar items in EconPapers)
JEL-codes: E02 E44 E52 E6 G32 (search for similar items in EconPapers)
Date: 2019
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