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Rothschild, Casey; Scheuer, Florian - C.E.P.R. Discussion Papers - 2014

We develop a framework for optimal taxation when agents can earn their income both in traditional activities, where private and social products coincide, and in rent-seeking activities, where private returns exceed social returns either because they involve the capture of pre-existing rents or...

Persistent link: https://www.econbiz.de/10011084719

Diamonds are Forever, Wars are Not: Is Conflict Bad for Private Firms?

Guidolin, Massimo; La Ferrara, Eliana - C.E.P.R. Discussion Papers - 2004

This Paper studies the relationship between civil war and private investment in a poor, resource abundant country using microeconomic data for Angola. We focus on diamond mining firms and conduct an event study on the sudden end of the conflict, marked by the death of the rebel movement leader...

Persistent link: https://www.econbiz.de/10005067422

Political Connections and Preferential Access to Finance: The Role of Campaign Contributions

Claessens, Stijn; Feijen, Erik; Laeven, Luc - C.E.P.R. Discussion Papers - 2007

Using novel indicators of political connections constructed from campaign contribution data, we show that Brazilian firms that provided contributions to (elected) federal deputies experienced higher stock returns than firms that don’t around the 1998 and 2002 elections. This suggests...

Persistent link: https://www.econbiz.de/10005666705

Who is the Enemy?

Epstein, Gil S; Gang, Ira - C.E.P.R. Discussion Papers - 2004

We examine who benefits when there is a strong leader in place, and those who benefit when a situation lacks a proper leader. There are fractious terrorist groups who seek to serve the same people in a common cause against a common enemy. The groups compete for rents obtained from the public by...

Persistent link: https://www.econbiz.de/10005791251

The Rise and Fall of Elites: A Theory of Economic Development and Social Polarization in Rent-seeking Societies

Verdier, Thierry - C.E.P.R. Discussion Papers - 1996

This paper analyses how political institutions, wealth distribution and economic activities affect each other during the process of development. A simple general equilibrium model of rent-seeking political elites with two productive sectors (modern and traditional) is presented. Political...

Persistent link: https://www.econbiz.de/10005124016

Public Procurement and Rent-Seeking: The Case of Paraguay

Auriol, Emmanuelle; Flochel, Thomas; Straub, Stéphane - C.E.P.R. Discussion Papers - 2011

A model of entrepreneurial choices in an economy with a corrupt public procurement sector is built, providing predictions along two main dimensions. First, corruption is more frequent in sectors where public institutions are large buyers. Second, firms favoured with corrupt contracts enjoy extra...

Persistent link: https://www.econbiz.de/10008865969

On the Desirability of an Efficiency Defense in Merger Control

Heidhues, Paul; Lagerlöf, Johan N. M. - C.E.P.R. Discussion Papers - 2003

We develop a model in which two firms that have proposed to merge are privately informed about merger-specific efficiencies. This enables the firms to influence the merger control procedure by strategically revealing their information to an antitrust authority. Although the information improves...

Persistent link: https://www.econbiz.de/10005067524

Deregulation of Business

Yakovlev, Evgeny; Zhuravskaya, Ekaterina - C.E.P.R. Discussion Papers - 2007

health. The results support public choice theory of the nature of regulation and are inconsistent with the predictions of … exogenous variation in regulation generated by the interaction of reform and its institutional determinants, we find a … public interest theory. …

Persistent link: https://www.econbiz.de/10005667109

More Insiders, More Insider Trading: Evidence from Private Equity Buyouts

Acharya, Viral V; Johnson, Tim - C.E.P.R. Discussion Papers - 2007

. They are unlikely to be consistent with models of optimal regulation. …

Persistent link: https://www.econbiz.de/10005498160

Regulating a Multi-Utility Firm

Calzolari, Giacomo; Scarpa, Carlo - C.E.P.R. Discussion Papers - 2007

We study the regulation of a utility firm which is active in a competitive unregulated sector as well. If the firm … and quantity competition) and also optimal regulation. Accounting for the several effects of regulation on the unregulated … market, we show the existence of an informational externality, in that regulation provides useful information to the rival …

Persistent link: https://www.econbiz.de/10005124135