Showing 1 - 10 of 1,500
this event, firms with little or no prior exposure to the federal accounts that experienced cuts reduced their lobbying … spending. In contrast, firms with a high degree of exposure to the cuts maintained and even increased their lobbying spending … likely intensified their lobbying efforts to distinguish themselves from the others and improve their chances of procuring a …
Persistent link: https://www.econbiz.de/10012103562
We study how lobbying affects the resolution of failed banks, using a sample of FDIC auctions between 2007 and 2014. We … higher costs in such auctions, amounting to 16.4 percent of the total resolution losses. We also find that lobbying winners … have worse operating and stock market performance than their non-lobbying counterparts, suggesting that lobbying results in …
Persistent link: https://www.econbiz.de/10011763817
In this paper, we discuss whether and how bank lobbying can lead to regulatory capture and have real consequences … through an overview of the motivations behind bank lobbying and of recent empirical evidence on the subject. Overall, the … interpreted as a call for an outright ban of lobbying, they point in the direction of a need for rethinking the framework …
Persistent link: https://www.econbiz.de/10012103556
I construct an endogenous growth model where R&D is carried out at the industry level in a game of innovation between leaders and followers. Innovation costs for followers are assumed to increase with the technological lag from leaders. We obtain three results that contrast with standard...
Persistent link: https://www.econbiz.de/10014400811
This paper examines the relationship between rent seeking and economic performance when governments cannot enforce property rights. With imperfect credit markets and a fixed cost of rent seeking, only wealthy agents choose to engage in it, since it enables them to protect their wealth from...
Persistent link: https://www.econbiz.de/10014401029
This paper studies the relationship between wealth inequality and occupational choice between rent-seeking and production. With imperfect credit markets and a fixed cost to rent-seeking, only wealthy agents choose to engage in rent-seeking as it enables them to protect their wealth from...
Persistent link: https://www.econbiz.de/10014403639
This paper analyzes the pervasiveness and persistence of rent seeking, misgovernance, and public sector inefficiency in many developing and transition economies. We formalize evidence from country experiences and empirical studies into a stylized analytical framework that reflects realistic...
Persistent link: https://www.econbiz.de/10014401974
This paper analyzes the erosion of fiscal revenue by inflation resulting from the issuance of money. The empirical evidence for a number of developing countries supports the well-known hypothesis that an increase in inflation will result in a fall in real fiscal revenue because of collection...
Persistent link: https://www.econbiz.de/10014396042
This paper estimates the carbon leakage rate across countries, arguably a key parameter in the international climate policy discussion including on border carbon adjustment, but which remains subject to significant uncertainty. We propose innovations along two lines. First, we exploit recently...
Persistent link: https://www.econbiz.de/10012605494
This paper reviews recent literature on the macroeconomic effects of environmental taxes. It attempts to delineate the conditions under which a cleaner environment is compatible with attaining macroeconomic objectives, such as more employment and economic growth. The analysis reveals that an...
Persistent link: https://www.econbiz.de/10014400766