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Markets Versus Governments : Political Economy of Mechanisms
Acemoglu, Daron - 2009
asymptotic allocation where the aggregate distortions arising from political economy disappear. In contrast, when the government …
Persistent link: https://www.econbiz.de/10012767334
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Producers and Predators
Grossman, Herschel I. - 2021
This paper explores a series of general-equilibrium models in which people can choose to be either producers or predators, and in which producers can allocate their resources either to production or to guarding their production against predators. The analysis shows how the ratio of predators to...
Persistent link: https://www.econbiz.de/10013235281
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Debts and Deficits with Fragmented Fiscal Policymaking
Velasco, Andrés - 2021
This paper develops a political-economic model of fiscal policy - one in which government resources are a common property' out of which interest groups can finance expenditures on their preferred items. This setup has striking macroeconomic implications. Transfers are higher than a benevolent...
Persistent link: https://www.econbiz.de/10013243430
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Task Routineness and Trade Policy Preferences
Blonigen, Bruce A. - 2013
Understanding the formation of individual trade policy preferences is a fundamental input into the modeling of trade policy outcomes. Surprisingly, past studies have found mixed evidence that various labor market and industry attributes of workers affect their trade policy preferences, even...
Persistent link: https://www.econbiz.de/10013075425
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Diversity and Redistribution
Fernández, Raquel; Levy, Gilat - 2021
This paper examines how preference heterogeneity affects the ability of the poor to extract resources from the rich. We study the equilibrium of a game in which coalitions of individuals form parties, parties propose platforms, and all individuals vote, with the winning policy chosen by...
Persistent link: https://www.econbiz.de/10013247424
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What Determines Individual Trade Policy Preferences?
Scheve, Kenneth; Slaughter, Matthew J. - 2021
This paper provides new evidence on the determinants of individual trade policy preferences using an individual-level data set identifying both stated trade policy preferences and potential trade exposure through several channels for the United States in 1992. There are two main empirical...
Persistent link: https://www.econbiz.de/10013229115
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Misallocation, Economic Growth, and Input-Output Economics
Jones, Charles I. - 2011
One of the most important developments in the growth literature of the last decade is the enhanced appreciation of the role that the misallocation of resources plays in helping us understand income differences across countries. Misallocation at the micro level typically reduces total factor...
Persistent link: https://www.econbiz.de/10013130964
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Resource Allocation within Firms and Financial Market Dislocation : Evidence from Diversified Conglomerates
Matvos, Gregor - 2011
allocation within firms' internal capital markets provides an important force countervailing financial market dislocation. Using … capital funds quadruple during extreme financial market dislocations, making resource allocation within firms significantly … counterfactual out of sample simulated data is remarkably consistent with the actual data and shows that improved resource allocation …
Persistent link: https://www.econbiz.de/10013117120
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Productivity Volatility and the Misallocation of Resources in Developing Economies
Collard-Wexler, Allan - 2011
We investigate the role of dynamic production inputs and their associated adjustment costs in shaping the dispersion of total factor productivity (TFP) and static measures of capital misallocation within a country. Using data on 5,010 establishments in 33 developing countries from the World...
Persistent link: https://www.econbiz.de/10013122876
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Capital and Labor Reallocation Inside Firms
Giroud, Xavier - 2012
We document how a plant-specific shock to investment opportunities at one plant of a firm ("treated plant") spills over to other plants of the same firm--but only if the firm is financially constrained. While the shock triggers an increase in investment and employment at the treated plant, this...
Persistent link: https://www.econbiz.de/10013096857