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 …

This paper explores the links among growth, the informal economy, and rent-seeking bureaucracies. The presence of … congestion associated with the enforcement of property right implies that informality can be useful. Whether bureaucratic rent … order to create profits which can be appropriated, rent-seeking bureaucrats limit entry into the formal economy. As a result …

This paper explores the links among growth, the informal economy, and rent-seeking bureaucracies. The presence of … congestion associated with the enforcement of property rights implies that informality can be useful. Whether bureaucratic rent … order to create profits which can be appropriated, rent-seeking bureaucrats limit entry into the formal economy. As a result …

political elites. The model takes a rent-seeking government that can block innovation, and incorporates it into a Schumpeterian …

for values of risk aversion greater than unity. This note studies the relationship between uncertainty and long … drives unbounded growth. With these preferences, risk aversion and intertemporal elasticity of substitution are allowed to be …