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This paper addresses the effects of the revolving door phenomenon on the inequality of influence among firms. It shows that firms are not equal in their capacities to benefit from state connections. We first develop a theoretical model introducing the notion of "bureaucratic capital" and showing...
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Why do firms lobby? This paper exploits the unanticipated sequestration of federal budget accounts in March 2013 that reduced the availability of government funds disbursed through procurement contracts to shed light on this question. Following this event, firms with little or no prior exposure...
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High-quality data on state-level inequality and incomes, panel data on corruption convictions, and careful attention to … institutional environment the corruptible employee’s or official’s decision to engage in corruption is affected by relative wages … of inequality, which indicate diminished prospects facing those convicted of corruption. In US states over 25 years we …
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