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[Lecture]Cost-Benefit Analysis of Financial Regulation: Current Trends[18 Oct]

Subject£ºCost-Benefit Analysis of Financial Regulation: Current Trends

Speaker£ºProf John Linarelli£¬Durham Law School.

Chair£ºGuo Rui£¬Associate Professor of Renmin Law

Time£º 15:00-17:00, Oct 18th, 2017

Venue£ºRoom 725, Mingde Law Building.


Professor John Linarelli holds a Chair in Commercial Law at Durham. He has served in professorial posts on both sides of the Atlantic, in both the UK and the USA. He joined Durham Law School in October 2014. Professor Linarelli received an MA and PhD in Philosophy from the University of California Riverside, a PhD in Law from King,s College University of London, an LLM from Georgetown University, a JD from American University Washington College of Law, and a BA in Economics and Political Science from Duquesne University. Professor Linarelli,s research is interdisciplinary, in law, moral and political philosophy, and economics. He has published widely in both law and philosophy journals.

Cost-benefit analysis has long been a standard tool that government agencies have used to evaluate proposed regulation. It is a well-accepted tool for evaluating the design of institutions. But there has been an extensive academic debate about the efficacy and feasibility of cost-benefit analysis for the evaluation of financial regulation. In this lecture, Professor Linarelli surveys this debate and argues that the concerns about using cost-benefit analysis to evaluate financial regulation are unfounded. Using examples from the regulation of mortgages, consumer credit, and the capital adequacy of banks, he argues that regulators should use cost-benefit analysis in evaluating financial regulation. He argues for an expansion of cost-benefit analysis in such cases (and beyond) to consider the distributive consequences of financial regulation. He also argues that modifying cost-benefit analysis to account for advances in the cognitive sciences is warranted. Some of these advances put stress on quantification in cost benefit analysis but new research is rising to the challenge.

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