Title: Regulating systemic risk through transparency
Description: "Public or partial disclosure of financial data is a key element in the design of a new regulatory environment.  We study the costs and benefits of higher public access to financial data and analyze qualitatively how frequency, disclosure lag and granularity of such open data can be chosen to maximize welfare, depending on the relative magnitude of economic frictions.  We lay out a simple framework to choose optimal transparency of financial data.Published: Regulating Systemic Risk through Transparency: Tradeoffs in Making Data Public, Augustin Landier, David Thesmar, in Systemic Risk and Macro Modeling (2012), University of Chicago Press"--National Bureau of Economic Research web site.