In this paper, we argue that campaign contributions are not a form of policy-buying, but are rather a form of political participation and consumption. We summarize the data on campaign spending, and show through our descriptive statistics and our econometric analysis that individuals, not...

In this paper, we argue that campaign contributions are not a form of policy-buying, but are rather a form of political participation and consumption. We summarize the data on campaign spending, and show through our descriptive statistics and our econometric analysis that individuals, not...

In this paper, we argue that campaign contributions are not a form of policy-buying, but are rather a form of political participation and consumption. We summarize the data on campaign spending, and show through our descriptive statistics and our econometric analysis that individuals, not...

This paper uses event study methodology to measure whether firms that gave soft money to political parties received excessively high rates of returns from their contributions. We measure the excess returns of firms that gave large amounts of soft money and firms that gave no soft money, and...

This paper examines evidence of statistical bias in newspaper reporting on campaign finance. We compile data on all dollar amounts for campaign expenditures, contributions, and receipts reported in the five largest circulation newspapers in the United States from 1996 to 2000. We then compare...