) and a rent. With wage rigidity this sum is acyclical; we consider rent rigidity, where only the rent is acyclical. We … determination generates weakly procyclical worker rents, and that are attained by rent rigidity. Quantitatively, the bounds are … tight: rent rigidity generates no more than a third of observed volatility, an outcome that is closer to Nash bargaining …

) and a rent. With wage rigidity this sum is acyclical; we consider rent rigidity, where only the rent is acyclical. We … determination generates weakly procyclical worker rents, and that are attained by rent rigidity. Quantitatively, the bounds are … tight: rent rigidity generates no more than a third of observed volatility, an outcome that is closer to Nash bargaining …

The conventional wisdom is that politicians' rent-seeking motives increase public debt and deficits. This is because … uncertainty, then a rent-seeking government actually over-saves and over-taxes along the equilibrium path relative to a benevolent … government. This result emerges because of the option value of rent-seeking: A rent-seeking government over-values future funds …

The conventional wisdom is that politicians' rent-seeking motives increase public debt and deficits. This is because …, a rent-seeking government over-saves and over-taxes along the equilibrium path relative to a benevolent government … through its effect on expectations of future rent extraction rather than though the contemporary constraint. However, these …