theory predicts. Empirical evidencesuggests that social and political instability is a major reason for thedivergence between …

political power at the expenses of the median voter. In particular, investments in lobbying activities allow the rich to obtain … variable taxes and lobbying. In addition, it is established the existence of a transitional dynamics featuring convergence to a … balanced growth path, characterized by constant taxes and lobbying (and a constant growth rate of consumption and capital …