Testing Regulatory Consistency #

  title={Testing Regulatory Consistency #},
  author={Robert V. Breunig and Flavio M. Menezes},
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… CONTINUE READING

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