of education complementary to their production. Lobbying is endogenous. We show that, if lobbying is not costly, both … social planner. However, if lobbying is costly, only one sector finds it profitable to offer monetary contribution and direct … resources towards the type of education required by its production. Which sector will engage in lobbying depends on relative …

of education complementary to their production. Lobbying is endogenous. We show that, if lobbying is not costly, both … social planner. However, if lobbying is costly, only one sector finds it profitable to offer monetary contribution and direct … resources towards the type of education required by its production. Which sector will engage in lobbying depends on relative …

In a model of strategic interaction between firms in lobbying activity, I show that capitalists might prefer tariffs … (protection) to production subsidies (promotion). This is due to the congestion problem arising from the government's convex … welfare costs of providing subsidies as opposed to both the free-rider problem and the congestion problem acting in opposite …

their creditworthiness and compare different types of subsidies with indirect subsidization through public banks. We find … that, in a large parameter range, the politician prefers public banks to direct subsidies because they avoid windfall gains … subsidies. One important prerequisite for this result is that public banks must not be allowed to fully compete with private …

, progressive taxation as well as investment and output subsidies to the entrepreneurial sector. …

We ask whether production related subsidies have a role to play in explaining Chinese firms' export performance. We …, firstly, implement an estimation approach that allows for both direct and indirect ("spillover") effects of the subsidy on the … already receive subsidies in a well-specified cluster. These two issues have, to the best of our knowledge, not been …

: the tax deductibility of interest payments and implicit funding subsidies. This paper fills a gap in the literature by … implicit funding subsidy remain large, in the order of up to 1 percent of GDP, despite decreases in recent years. But the … implicit funding subsidy incentivises debt financing as it lowers private bankruptcy costs. This funding subsidy is passed on …

-and-control elements plus a sizeable abatement subsidy. Our paper informs about this tripartite climate policy, which is unique in the …