The Dynamics of Firm Lobbying

• 成果类型: Article
• 署名作者: Kerr, William R.; Lincoln, William F.; Mishra, Prachi
• 署名单位: Harvard University; National Bureau of Economic Research; Johns Hopkins University; International Monetary Fund
• 刊物名称: AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY
• ISSN/ISSBN: 1945-7731
• DOI: 10.1257/pol.6.4.343
• 发表日期: 2014
• 页码: 343-379
• 关键词: political activity; labor-market; panel-data; entry; Heterogeneity; immigrants; INVESTMENT; PROTECTION; INNOVATION; PARTICIPATION

摘要

How is economic policy made? In this paper we study a key determinant of the answer to the question: lobbying by firms. Estimating a binary choice model of firm behavior, we find significant evidence for the idea that barriers to entry induce persistence in lobbying. The existence of these costs is further confirmed in studying how firms responded to a particular policy change: the expiration of legislation relating to the H-1B visa. Due to its influence on firm behavior, we argue that this persistence fundamentally changes the environment in which legislation is made.