Central Banks or Single Authorities? A Delegation Puzzle. Economics, Politics and Law of Financial Supervision Architectures

The objective of this work is to offer a political delegation approach in the analysis of the financial regulators architectures. Focusing on the key issue in the debate on financial regulatory structure - single authority versus multi-authorities model - the paper shows that the optimal degree of concentration in the financial regulatory regime cannot be defined a priori; rather it is an…

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