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This project grew out of a recognition that I could fmd no
aggregate measure of the amount of regulation beyond crude proxies
such as the number of pages in the Federal Register. As I began to
address this specific issue. I became much more aware of two things
-- the enormity of regulation in the u.s. economy and the relative
absence of economic research into the macroeconomic consequences of
those regulations. While I would have readily granted the idea that
many economist'> knew more about regulation than I did, I would
have thought my knowledge of regulation to be at least up to the
average economist's. My graduate training in the early to mid 1980s
included special attention to the field of "public choice" and
related topics, all of which occasionally explored regulatory
topics. Moreover. I had at least a passing knowledge of the debates
concerning deregulation in the late 1970s and early 1980s. Because
of this, my own ignorance of regulation's actual expanse and its
aggregate consequences startled me and heightened my interest in
expanding empirical research into regulation as a macroeconomic
influence. The more I thought about graduate macroeconomics classes
and texts, the more that I realized the exclusion of regulation as
a macroeconomic topic in spite of its massive scale and
far-reaching tentacles.
This project grew out of a recognition that I could fmd no
aggregate measure of the amount of regulation beyond crude proxies
such as the number of pages in the Federal Register. As I began to
address this specific issue. I became much more aware of two things
-- the enormity of regulation in the u.s. economy and the relative
absence of economic research into the macroeconomic consequences of
those regulations. While I would have readily granted the idea that
many economist'> knew more about regulation than I did, I would
have thought my knowledge of regulation to be at least up to the
average economist's. My graduate training in the early to mid 1980s
included special attention to the field of "public choice" and
related topics, all of which occasionally explored regulatory
topics. Moreover. I had at least a passing knowledge of the debates
concerning deregulation in the late 1970s and early 1980s. Because
of this, my own ignorance of regulation's actual expanse and its
aggregate consequences startled me and heightened my interest in
expanding empirical research into regulation as a macroeconomic
influence. The more I thought about graduate macroeconomics classes
and texts, the more that I realized the exclusion of regulation as
a macroeconomic topic in spite of its massive scale and
far-reaching tentacles.
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