Researchers should investigate the language and legal structure of financial regulations to judge their impact, a working paper published by the Bank of Spain argues.

In New dimensions of regulatory complexity and their economic cost. An analysis using text mining, Juan de Lucio and Juan Mora-Sanguinetti take a new approach to analysing financial regulations.

The literature on the subject has so far analysed regulatory complexity in terms of the quantity of norms, the authors say. But they