This paper deals with the relationship between regulatory compliance, bureaucratic corruption, lobbying and the industrial structure of a country. We show that lobbying and bureaucratic corruption can coexist at the macro level when we allow for heterogeneity in firm size. Countries with similar...

We study the ex-ante budget devoted by a Political Principal to a Competition Authority in charge of collecting evidence on the Industry's behavior. The Industry can capture both the Principal (lobbying) for a reduced budget, and the Authority (side-contracting) so as to avoid fines. Authority's...

Why do dynamic inconsistencies in monetary policy exist? In this paper we present a traditional model with output inefficiencies, but we allow for monetary policy to be influenced by the various constituencies in the economy, that pressure the Congress to in turn pressure the central bank to...