Testing Regulatory Consistency

Robert Breunig and Flavio Menezes

No 380, Discussion Papers Series from University of Queensland, School of Economics

Abstract: We undertake an analysis of regulatory consistency using a database of publicly available regulatory decisions in Australia. We propose a simple exploratory model which allows us to test for regulatory consistency across jurisdictions and industries without detailed knowledge of the regulatory process. We compare two measures using our approach--the weighted average cost of capital and the proportion of firms� revenue requirement claims disallowed by the regulator. We advocate use of the second measure, but our empirical results may be interpreted as indicating that a range of measures ought to be considered when assessing regulatory consistency.

Date: 2008
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Journal Article: TESTING REGULATORY CONSISTENCY (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:qld:uq2004:380

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