The Economic Constitution of the United States-Reference-Cited by-同舟云学术

The Economic Constitution of the United States

Published:2024-05-01 Issue:2 Volume:38 Page:25-42
ISSN:0895-3309
Container-title:Journal of Economic Perspectives
language:en
Short-container-title:Journal of Economic Perspectives

Author:

Sunstein Cass R.¹

Affiliation:

1. Cass R. Sunstein is the Robert Walmsley University Professor, Harvard Law School, Cambridge, Massachusetts. From 2009 to 2012, Sunstein served as Administrator, Office of Information and Regulatory Affair, Washington, DC. From 2021 to the present, he has also served as senior counselor and consultant with the Department of Homeland Security, where he has occasionally been involved in discussions of some of the issues explored in this essay. .

Abstract

The United States has an Economic Constitution, governing federal regulation, and explaining how to conduct regulatory impact analysis, with reference to quantification and monetization of the costs and benefits of proposed and final regulations. Known as OMB Circular A-4, the Economic Constitution of the United States was thoroughly revised in 2023, with new directions on behavioral economics and nudging; on discount rates and effects on future generations; on distributional effects and how to account for them; and on benefits and costs that are hard or impossible to quantify. The revised document leaves numerous open questions, involving (for example) the valuation of human life, the valuation of morbidity effects, and the value of the lives of children.

Publisher

American Economic Association

Link

https://pubs.aeaweb.org/doi/pdf/10.1257/jep.38.2.25

Reference56 articles.

1. Environmental Economics and Policy 10 (2): 264-85. Adler, Matthew D. 2019. Measuring Social Welfare: An Introduction. Oxford: Oxford University Press. Adler, Matthew D., and Ole F. Norheim, eds. 2022. Prioritarianism in Practice. Cambridge, Uk: Cambridge

2. University Press. Adler, Matthew D., and Eric A. Posner. 2006. New Foundations of Cost-Benefit Analysis. Cambridge, MA:

3. Harvard University Press. Allcott, Hunt, and Judd B. Kessler. 2019. "The Welfare Effects of Nudges: A Case Study of Energy Use

4. Social Comparisons." American Economic Journal: Applied Economics 11 (1): 236-76. Arrow, Kenneth J., Maureen L. Cropper, Christian Gollier, Ben Groom, Geoffrey Heal, Richard G.

Cited by 1 articles. 订阅此论文施引文献订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献

1. Regulators Should Value Nonhuman Animals;Journal of Benefit-Cost Analysis;2024-05-16