How To Consider Governance In Economic Policy Modeling?
We develop a framework where economic agents choose between becoming productive entrepreneurs or re-distributive rent seekers. Rent seekers use economic resources to extract rents and thus their existence generates an inefficient economic outcome. We study the welfare impact of rent seeking activities and show that their reduction is welfare improving.
|Date of creation:||2001|
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- Angeletos, George-Marios & Kollintzas, Tryphon, 2000. "Rent Seeking/Corruption And Growth: A Simple Model," CEPR Discussion Papers 2464, C.E.P.R. Discussion Papers.
- Richard Baldwin, 1989.
"Measureable Dynamic Gains from Trade,"
NBER Working Papers
3147, National Bureau of Economic Research, Inc.
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