While experts have long agreed that federal regulatory policy has significant effects on the economy and welfare, federal regulatory agencies differ not only in their policies and practices, but also in their use of economic analysis in rulemaking. The agencies that belong to the Executive Branch follow an executive order on regulatory policy as well as guidance from the Office of Management and Budget on how to conduct regulatory analysis. Meanwhile, independent regulatory commissions (IRCs) such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are not similarly constrained. This conference, held in Washington, DC on 7 April 2011, explored how greater use of economic analysis at IRCs may improve regulatory decision-making and public accountability, while also promoting economic growth and entrepreneurship. NERA Industry Affiliate Dr. James Overdahl, a former Chief Economist at both the SEC and CFTC, shared his views on financial regulatory commissions.

To learn more about this event, please visit the Resources for the Future website.