This paper examines the general-equilibrium effects of declining import prices on import and export industries’ lobbying. Different from the existing literature, our model endogenizes the emergence of lobbying groups, as lobbying requires both money to “buy access” to policymakers and...

This paper introduces an alternative to the lobbying literature's standard assumption that money buys policies. Our model - in which influence-seeking requires both money to buy access and managerial time to utilize access - offers three significant benefits. First, it counters criticism that...

Purpose: This paper examines the effects of limiting the number of loans a bank can issue, reflecting a policy recently implemented by the US Federal Reserve. Design/methodology/approach: This paper does so in a streamlined model of the banking sector. Findings: This paper finds that a binding...