RULES VERSUS DISCRETION: THE PRODUCTIVITY CONSEQUENCES OF FLEXIBLE REGULATION.
利用电力公用事业数据，研究发现设计良好的灵活监管支出能提升生产率，而设计不佳的监管则产生负面影响。
Using data from electric utilities, this study shows that spending on well-designed regulations has a positive productivity impact but that spending on less well-designed regulations has a negative effect. Better-designed regulations are flexible and grant firms latitude on how to meet goals, allow them time to deploy new means to meet goals, and set ambitious goals that stretch them beyond current practices.