Heijdra, Ben J.; Heijnen, Pim - 2023
We study the effects of time-using rent-seeking activities on the macroeconomic allocation and the economic growth rate … useless) rent-seeking ability. In the benchmark model each agent decides during youth on how much time to spend on lobbying … ensures that the model features endogenous growth. The rewards to rent-seeking accrue during youth and part of the additional …