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An Assessment of OMB's Draft Guidelines to Help Agencies Estimate the Benefits and Costs of Federal Regulation

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  • Hahn, Robert W.

Abstract

The Office of Management and Budget has led efforts to develop guidelines for benefit-cost analysis of regulations based on widely accepted economic principles, most recently with the release of its draft 1999 guidelines. The draft is a good start, but needs substantial improvement. Moreover, good guidance is not enough; clear and concise presentation of results, rigorous oversight, and enforcement of quality standards are also necessary to raise the caliber of regulatory analyses and to encourage interested parties to compare analyses across agencies. To strengthen the impact of the guidelines, the OMB should be given greater authority to enforce quality standards and another agency outside the executive branch should be charged with assessing regulations and regulatory programs.

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Bibliographic Info

Paper provided by Regulation2point0 in its series Working paper with number 418.

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Date of creation: Dec 1999
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Handle: RePEc:reg:wpaper:418

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Web page: http://regulation2point0.org/

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  1. Morrison, Steven & Winston, Clifford, 1998. "Fundamental Flaws of Social Regulation: The Case of Airplane Noise," Working paper 335, Regulation2point0.
  2. Arrow, Kenneth J. & Cropper, Maureen L. & Eads, George C. & Hahn, Robert W. & Lave, Lester B. & Noll, Roger G. & Portney, Paul R. & Russell, Milton & Schmalensee, Richard L. & Smith, V. Kerry & Stavin, 1996. "Benefit-Cost Analysis in Environmental, Health, and Safety Regulation: A Statement of Principles," Working paper 615, Regulation2point0.
  3. Roger Noll, 2009. "The Economics and Politics of the Slowdown in Regulatory Reform," Books, American Enterprise Institute, number 24102, 7.
  4. Cornell, N. & Noll, Roger G. & Weingast, B., . "Safety Regulation," Working Papers 122, California Institute of Technology, Division of the Humanities and Social Sciences.
  5. Robert W. Hahn & Robert E. Litan, 2009. "Improving Regulatory Accountability," Books, American Enterprise Institute, number 24578, 7.
  6. Christopher DeMuth & Robert W. Hahn & Robert E. Litan & Robert W. Crandall, 2009. "An Agenda for Federal Regulatory Reform," Books, American Enterprise Institute, number 24055, 7.
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