| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3701 |
| DP3701 VARs, Common Factors and the Empirical Validation of Equilibrium Business Cycle Models | |
| Lucrezia Reichlin; Luca Sala; Domenico Giannone | |
| 发表日期 | 2002-01-28 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | In this paper, we present a citizen-candidate model of representative democracy with endogenous lobbying. We find that lobbying induces policy compromise and always affects equilibrium policy outcomes. In particular, even though the policy preferences of lobbies are relatively extreme, lobbying biases the outcome of the political process toward the center of the policy space, and extreme policies cannot emerge in equilibrium. Moreover, in equilibrium, not all lobbies participate in the policy-making process. |
| 主题 | Industrial Organization ; Public Economics |
| 关键词 | Endogenous lobbying Citizen-candidate model Representative democracy |
| URL | https://cepr.org/publications/dp3701 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532212 |
| 推荐引用方式 GB/T 7714 | Lucrezia Reichlin,Luca Sala,Domenico Giannone. DP3701 VARs, Common Factors and the Empirical Validation of Equilibrium Business Cycle Models. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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