International environmental agreements (IEAs) often condition entry into force on ratification by a minimum number of countries, yet deep environmental commitments frequently face strong domestic political resistance. We study how IEA breadth, through minimum ratification thresholds (MRTs), and...

Do firms uniformly oppose regulations that increase production costs, or might industry leaders strategically support stricter standards as a competitive tool? We identify a specific mechanism through which large firms strategically support regulations to enhance their competitive position....

We develop a model of monetary policy committee decision-making, building on the framework of games played through agents (GPTA). Interest groups seek to influence policy by offering action-contingent contracts to committee members. The resulting equilibrium admits a simple characterization and...

I study how political parties affect representation in the U.S. House. To do so, I account for party pressure on the votes of members in an otherwise standard spatial model that uses roll call voting patterns to identify member ideologies. I simultaneously estimate voter ideologies from survey...

This paper analyzes the economic returns to political connections in Brazilian local elections, focusing not only on traditional campaign donations but also on two novel channels: firms that provide goods or services to candidates during campaigns and firms' owners affiliated with parties within...

On 1 March 2018, President Trump declared a 25% tariff on certain steel imports by invoking Section 232 of the 1962 Trade Expansion Act. The tariff pitted two of America's most storied and interconnected industries, steel and auto producers, against one another and made allies out of longtime...

The trade war with China has cost US producers and consumers hundreds of billions of dollars since 2018. Yet relatively few US businesses took action to oppose it. This study reports the results of an elite survey experiment on business political activity toward trade policy. Researchers...

Recent trade wars have confronted the trade policy literature with a major puzzle. How can we explain protectionist tendencies in the context of global economic integration? In this article, I aim to provide an answer to the question why, and under which conditions, internationally oriented...

How do firms respond to greener household preferences? We construct a novel index of environmental willingness to act on the state-quarter level based on Google Trends search data. Relating the index to firm-level information on the U.S. automotive sector from 2006 to 2019, we find ambiguous...

We examine how political capitalism can develop within modern states that typically have many types of checks and balances. We first discuss how this can occur through various influence channels: government executive and regulatory agencies, legislators, litigation, the press, and the public...

We link a new database of politically exposed persons with the complete register of firms established in Mozambique since Independence. Focusing on the network of connections between firm owners, we use a generalized event study analysis to show that holders of political office achieve...

The ability of private interests to influence the political process is an important topic in economics and political science. While some of these efforts appear as campaign finance and lobbying expenditures in the official record, private interests may also engage in "covert" influence through...

Revolving door laws restrict public officials from representing private interests before government after leaving office. While these laws mitigate potential conflicts of interest, they also may affect the pool of candidates for public positions by lowering the financial benefits of holding...

We study the reaction of low vs. high-skilled politicians to a reform, approved in Italy in 2011, that introduces stringent individual financial and career sanctions to local administrators who are judged responsible for their municipality’s bankruptcy. To this aim, we leverage exogenous...