NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Optimal Regulation with Exemptions

Louis Kaplow

NBER Working Paper No. 23887
Issued in September 2017

---- Acknowledgements ----

Harvard University and National Bureau of Economic Research. I am grateful to Nathan Hendren, Carl Shapiro, Steven Shavell, Andrei Shleifer, Joel Slemrod, Robert Stavins, and participants in workshops at Chicago, Harvard, Michigan, MIT, NBER, Northwestern, Stanford, and ETH/Zurich for discussion and comments, David Choi, Jodie Liu, Andrea Lowe, and Nick Warther for research assistance, and the John M. Olin Center for Law, Economics, and Business at Harvard University for financial support. Disclaimer: I occasionally consult on antitrust cases, and my spouse is in the legal department of a financial services firm. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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