Regulatory Impact Analysis

A Regulatory Impact Analysis is a systematic assessment of the costs, benefits, and other impacts of a proposed or existing regulation on affected parties, such as businesses, consumers, or government agencies. It typically includes an evaluation of the problem the regulation is intended to address, the range of possible regulatory options, and the economic, social, and environmental consequences of each option. The analysis may also consider issues such as the distributional impacts of the regulation (i.e., who bears the costs and benefits), the potential for unintended consequences, and the feasibility of implementation and enforcement. Regulatory Impact Analyses are often required by law or executive order to ensure that regulations are justified, effective, and minimally burdensome.