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Revolving door lobbyists

Blanes i Vidal, Jordi, Draca, Mirko and Fons-Rosen, Christian (2012) Revolving door lobbyists. American Economic Review, 102 (7). pp. 3731-3748. ISSN 0002-8282

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Abstract

Washington's `revolving door' - the movement from government service into the lobbying industry - is regarded as a major concern for policy-making. We study how ex-government staffers benefit from the personal connections acquired during their public service. Lobbyists with experience in the office of a US Senator suffer a 24% drop in generated revenue when that Senator leaves office. The effect is immediate, discontinuous around the exit period and long-lasting. Consistent with the notion that lobbyists sell access to powerful politicians, the drop in revenue is increasing in the seniority of and committee assignments power held by the exiting politician.

Item Type: Article
Official URL: http://www.aeaweb.org/aer/index.php
Additional Information: © 2012 AEA
Library of Congress subject classification: J Political Science > JA Political science (General)
J Political Science > JK Political institutions (United States)
Journal of Economic Literature Classification System: D - Microeconomics > D7 - Analysis of Collective Decision-Making > D72 - Economic Models of Political Processes: Rent-Seeking, Elections, Legislatures, and Voting Behavior
H - Public Economics > H1 - Structure and Scope of Government > H11 - Structure, Scope, and Performance of Government
J - Labor and Demographic Economics > J2 - Time Allocation, Work Behavior, and Employment Determination and Creation; Human Capital; Retirement > J24 - Human Capital; Skills; Occupational Choice; Labor Productivity
J - Labor and Demographic Economics > J4 - Particular Labor Markets > J44 - Professional Labor Markets and Occupations
J - Labor and Demographic Economics > J4 - Particular Labor Markets > J45 - Public Sector Labor Markets
L - Industrial Organization > L8 - Industry Studies: Services > L84 - Personal, Professional, and Business Services
Sets: Research centres and groups > Managerial Economics and Strategy Group
Research centres and groups > Centre for Economic Performance (CEP)
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 18 Jun 2012 11:30
URL: http://eprints.lse.ac.uk/44388/

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