Lobbying Expenditures on Migration: a Descriptive Analysis

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Caps on Political Lobbying

The cost of political campaigns in the U.S. has risen substantially in recent years. For example, real spending on congressional election campaigns doubled between 1976 and 1992 (Steven D. Levitt [1995]). There are many reasons why increased campaign spending might be socially harmful. First, increased spending means increased fund-raising, which may keep politicians from their legislative duti...

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Do Campaign Contributions and Lobbying Expenditures by Firms Create “Political” Capital?

We examine the relation between a firm’s campaign contributions and lobbying expenditures and its Tobin’s q. We follow other studies that use q to measure the value of the firm’s intangible capital (e.g., the value of advertising, R&D, or environmental performance). Researchers have found a positive and significant relation between intangible assets and q. If political capital exists, it is an ...

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Caps on Political Lobbying: Reply

Yeon-Koo Che and Ian Gale (1998) [CG, hereafter] studied the impact of imposing a cap on lobbying expenditures. They showed that a cap may lead to (1) greater expected aggregate expenditure and (2) a less efficient allocation of a political prize. In their comment, Todd Kaplan and David Wettstein (2005) [KW, hereafter] show that if the cap is not rigid (i.e., its effect on the cost of lobbying ...

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ژورنال

عنوان ژورنال: CESifo Economic Studies

سال: 2015

ISSN: 1610-241X,1612-7501

DOI: 10.1093/cesifo/ifv003