NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Regulating Systemic Risk through Transparency: Tradeoffs in Making Data Public

Augustin Landier, David Thesmar

NBER Working Paper No. 17664
Issued in December 2011
NBER Program(s):   PE

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.

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Document Object Identifier (DOI): 10.3386/w17664

Published: Regulating Systemic Risk through Transparency: Trade-Offs in Making Data Public, Augustin Landier, David Thesmar. in Risk Topography: Systemic Risk and Macro Modeling, Brunnermeier and Krishnamurthy. 2014

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