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Revolving Door Lobbyists

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Author Info

  • Jordi Blanes i Vidal
  • Mirko Draca
  • Christian Fons-Rosen

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.

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Bibliographic Info

Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0993.

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Date of creation: Aug 2010
Date of revision:
Handle: RePEc:cep:cepdps:dp0993

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Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP

Related research

Keywords: Lobbying; revolving door; US Congress; political connections; political elites;

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References

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  1. John M. de Figueiredo & Brian S. Silverman, 2002. "Academic Earmarks and the Returns to Lobbying," NBER Working Papers 9064, National Bureau of Economic Research, Inc.
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Citations

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Cited by:
  1. Christoph Moser & Simon Luechinger, 2012. "The Value of the Revolving Door: Political Appointees and the Stock Market," KOF Working papers 12-310, KOF Swiss Economic Institute, ETH Zurich.
  2. John M. de Figueiredo & Brian Kelleher Richter, 2013. "Advancing the Empirical Research on Lobbying," NBER Working Papers 19698, National Bureau of Economic Research, Inc.
  3. Daron Acemoglu & Simon Johnson & Amir Kermani & James Kwak & Todd Mitton, 2013. "The Value of Connections in Turbulent Times: Evidence from the United States," NBER Working Papers 19701, National Bureau of Economic Research, Inc.
  4. Jordi Blanes i Vidal & Mirko Draca & Christian Fons-Rosen, 2011. "The Power of K Street: New Research on the Economics of Lobbying," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 9(1), pages 8-11, 05.
  5. Murray, Cameron K., 2012. "Markets in political influence: rent-seeking, networks and groups," MPRA Paper 42070, University Library of Munich, Germany.
  6. Igan, Deniz & Mishra, Prachi, 2011. "Three's company: Wall Street, Capitol Hill, and K Street," MPRA Paper 44220, University Library of Munich, Germany, revised Aug 2012.
  7. Silke Friedrich, 2010. "Measuring Interest Group Activity," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 8(4), pages 37-46, 01.
  8. Martin Gregor, 2011. "Corporate lobbying: A review of the recent literature," Working Papers IES 2011/32, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Nov 2011.
  9. Yen-Teik Lee & Bang Dang Nguyen & Quoc-Anh Do, 2013. "Political Connections and Firm Value: Evidence from the Regression Discontinuity Design of Close Gubernatorial Elections," Sciences Po publications 15, Sciences Po.
  10. William R. Kerr & William F. Lincoln & Prachi Mishra, 2011. "The Dynamics of Firm Lobbying," NBER Working Papers 17577, National Bureau of Economic Research, Inc.
  11. Thomas Groll & Christopher J. Ellis, 2013. "A Simple Model of the Commercial Lobbying Industry," CESifo Working Paper Series 4110, CESifo Group Munich.
  12. Jin-Hyuk Kim, 2013. "Determinants of post-congressional lobbying employment," Economics of Governance, Springer, vol. 14(2), pages 107-126, May.
  13. Luigi Zingales, 2011. "Comment on "A Fistful of Dollars: Lobbying and the Financial Crisis"," NBER Chapters, in: NBER Macroeconomics Annual 2011, Volume 26, pages 236-243 National Bureau of Economic Research, Inc.
  14. Thomas Groll & Christopher J. Ellis, 2013. "Dynamic Commercial Lobbying," CESifo Working Paper Series 4114, CESifo Group Munich.
  15. Marianne Bertrand & Matilde Bombardini & Francesco Trebbi, 2011. "Is It Whom You Know or What You Know? An Empirical Assessment of the Lobbying Process," NBER Working Papers 16765, National Bureau of Economic Research, Inc.

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