We quantify the costs of major disclosure and governance regulations by exploiting a
regulatory quirk: many rules trigger when a firm's public float exceeds a threshold …

We analyze the role of retail central bank digital currency (CBDC) and reserves when banks
exert deposit market power and liquidity transformation entails externalities. Optimal …

Compliance-driven investments in technology—or “RegTech”—are growing rapidly. To
understand the effects on the financial sector, we study firms' responses to new internal …

We show that distortion in the size distribution of banks around regulatory thresholds can be
used to identify costs of bank regulation. We build a structural model in which banks can …

Building on administrative data and machine-learning models, I develop a firm-specific
measure of regulatory intensity: cost of compliance with all federal paperwork regulations …

We derive a measure of firm-level regulatory exposure from the text of corporate earnings
calls. We use this measure to study the effect of regulation on companies' growth, leverage …

We use textual analysis of mandatory accounting filings to develop firm-level, time-varying
measures of exposure to individual government agencies including the Securities Exchange …

Compliance-driven investments in technology—or “RegTech”—are growing rapidly. To
understand the effects on the financial sector, we study firms' responses to new internal …

Regulatory fragmentation occurs when multiple federal agencies oversee a single issue.
Using the full text of the Federal Register, the government's official daily publication, we …

Exploiting a novel measure of firm-specific exposure to climate change generated from
cutting-edge machine learning algorithms, we explore the effect of climate change …