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This paper investigates the effects of lobbying by corporations when investments are irreversible and government cannot commit to tax policies. We show that industries which rely more heavily on sunk capital lobby more vigorously and are generally more successful in obtaining tax breaks. Thus...
Persistent link: https://www.econbiz.de/10001651411
Quality competition, by increasing sunk costs, may produce levels of concentration even higher than expected in its absence. Based on Sutton's model of endogenous sunk costs and quality competition, we show that consumers, under certain conditions, may benefit from higher industry concentration...
Persistent link: https://www.econbiz.de/10013131532
, that induces offshoring, is not necessarily welfare-enhancing for consumers, despite the lower cost of labor in the South … be produced in the South where contracts are incomplete. We show that, this may reduce consumer welfare in both countries …
Persistent link: https://www.econbiz.de/10013067873
, that induces off shoring, is not necessarily welfare-enhancing for consumers, despite the lower cost of labor in the South … be produced in the South where contracts are incomplete. We show that, this may reduce consumer welfare in both countries …
Persistent link: https://www.econbiz.de/10013067877
tariffs, with a long-run trade elasticity that is 2.9 times the short-run trade elasticity. We estimate the welfare gains from …, consumption overshoots its new steady-state level, so the welfare gains are almost 15 times larger than the long-run change in …
Persistent link: https://www.econbiz.de/10013054735
tariffs, with a long-run trade elasticity that is 2.9 times the short-run trade elasticity. We estimate the welfare gains from …, consumption overshoots its new steady-state level, so the welfare gains are almost 15 times larger than the long-run change in …
Persistent link: https://www.econbiz.de/10013054851
variable export costs, and tariff reforms generate time-varying trade elasticities. We show that the gains from reducing … their ability to grow into successful exporters. We calibrate the model and estimate the welfare gains from reducing tariffs …, which differ substantially from the long-run changes in consumption or trade. We show that the welfare gain cannot be …
Persistent link: https://www.econbiz.de/10013044346
, that induces offshoring, is not necessarily welfare-enhancing for consumers, despite the lower cost of labor in the South … be produced in the South where contracts are incomplete. We show that, this may reduce consumer welfare in both countries …. -- consumer welfare ; incomplete contracts ; hold-up problem …
Persistent link: https://www.econbiz.de/10009130212
This paper investigates the effects of lobbying by corporations when investments are irreversible and government cannot commit to tax policies. We show that industries which rely more heavily on sunk capital lobby more vigorously and are generally more successful in obtaining tax breaks. Thus...
Persistent link: https://www.econbiz.de/10013320608