probability that a child has high ability. Education policies consist of a subsidy on private educational investments and possibly … of public education. We show that when an income tax is available, the subsidy on education should not depend on … laundering out). The two terms are of opposite sign and the optimal subsidy may be positive or negative. Finally, we derive …

popular view that choices on secondary policy instruments are largely determined by lobbying, we find strong effects of …

Conventional wisdom suggests that lobbying is the preferred mean for exerting political influence in rich countries and … theoretical framework that focus on the relationship between lobbying and corruption (that is, it investigates under what … conditions they are complements or substitutes). The paper also offers novel econometric evidence on lobbying, corruption and …

maker does not react unless all of them are actively lobbying. In a ‘mutual discipline’ or high-trust equilibrium, by …

antitrust agency and where transparency - while making lobbying less effective - also implies real resource costs. We examine … regulatory failures. We find that under a welfare standard, lobbying leads to the clearance of relatively inefficient mergers … relatively efficient mergers that would increase welfare (i.e. there is a type I error). Lobbying actually reduces the extent to …

Although the theoretical literature often uses lobbying and corruption synonymously, the empirical literature … associates lobbying with the preferred mean for exerting influence in developed countries and corruption with the preferred one … between bribing and lobbying. We test our predictions using survey data for about 6000 firms in 26 countries. Our results …