Do powerful politicians cause corporate downsizing?

Journal of Political Economy

Volumn 119, Issue 6, 2011, Pages 1015-1060

  Cohen, Lauren ^a   Coval, Joshua ^a   Malloy, Christopher ^a  

^a HARVARD UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

ECONOMIC ACTIVITY; EMPIRICAL ANALYSIS; EXPENDITURE; INTEREST RATE; PRIVATE SECTOR; TAX SYSTEM;

EID: 84857857542     PISSN: 00223808     EISSN: None     Source Type: Journal    
DOI: 10.1086/664820     Document Type: Article

References (57)

1. Aghion, Philippe, Leah Boustan, Caroline Hoxby, and Jerome Vandenbussche. 2009. "The Causal Impact of Education on Economic Growth: Evidence from the United States." Working paper, Harvard Univ.
2. Anderson, Gary M., and Robert D. Tollison. 1991. "Congressional Influence and Patterns of New Deal Spending." J. Law and Econ. 34:161-76.
3. Atlas, Cary, Thomas Gilligan, Robert Hendershott, and Mark Zupan. 1995. "Slicing the Federal Government Net Spending Pie: Who Wins, Who Loses, and Why." A.E.R. 85:624-29.
4. Barnard, Ellsworth. 1966. Wendell Willkie: Fighter for Freedom. Marquette: Northern Michigan Univ. Press.
5. Blanchard, Olivier, and Roberto Perotti. 2002. "An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output." Q.J.E. 117:1329-68.
6. Burnside, Craig, Martin Eichenbaum, and Jonas Fisher. 2004. "Fiscal Shocks and Their Consequences." J. Econ. Theory 115:89-117.
7. Caldara, Dario, and Christophe Kamps. 2006. "What Are the Effects of Fiscal Policy Shocks? A VAR-Based Comparative Analysis." Working paper, European Central Bank, Frankfurt.
8. Cavallo, Michele. 2005. "Government Employment Expenditure and the Effects of Fiscal Policy Shocks." Working paper, Fed. Reserve Bank San Francisco.
9. Chodorow-Reich, Gabriel, Laura Feiveson, Zachary Liscow, and William Woolston. 2010. "Does State Fiscal Relief during Recessions Increase Employment? Evidence from the American Recovery and Reinvestment Act."Working paper, Univ. California, Berkeley.
10. Clemens, Jeffrey, and Stephen Miran. 2010. "The Effects of State Budget Cuts on Employment and Income." Working paper, Harvard Univ.
11. Crain, Mark, and Robert Tollison. 1977. "Influence of Representation on Public Policy." J. Legal Studies 6:355-61.
12. Crain, Mark, and Robert Tollison. 1981. "Representation and Influence: A Reply." J. Legal Studies 10:215-19.
13. Cullen, Joseph, and Price Fishback. 2006. "Did Big Government's Largesse Help the Locals? The Implications of WWII Spending for Local Economic Activity, 1939-1958." Working Paper no. 12801, NBER, Cambridge, MA.
14. Deering, Christopher J., and Paul J. Wahlbeck. 2006. "Determinants of House Committee Chair Selection: Republicans Play Musical Chairs in the 107th Congress." American Politics Res. 34:1-21.
15. Edelberg, Wendy, Martin Eichenbaum, and Jonas Fisher. 1999. "Understanding the Effects of a Shock to Government Purchases." Rev. Econ. Dynamics 2:166-206.
16. Edwards, Keith, and Charles Stewart III. 2006. "The Value of Committee Assignments in Congress since 1994." Working paper, Massachusetts Inst. Tech.
17. Faccio, Mara. 2006. "Politically Connected Firms." A.E.R. 96:369-86.
18. Faccio, Mara, Ronald W. Masulis, and John J. McConnell. 2006. "Political Connections and Corporate Bailouts." J. Finance 61:2597-2635.
19. Faccio, Mara, and David Parsley. 2006. "Sudden Deaths: Taking Stock of Geographic Ties." J. Financial and Quantitative Analysis 33:683-718.
20. Fatás, Antonio, and Ilian Mihov. 2001. "The Effects of Fiscal Policy on Consumption and Employment: Theory and Evidence." Working paper, INSEAD, Paris.
21. Fishback, Price V., and Valentina Kachanovskaya. 2010. "In Search of the Multiplier for Federal Spending in the States during the Great Depression."Working Paper no. 16561, NBER, Cambridge, MA.
22. Fisman, David, Raymond Fisman, Julia Galef, and Rakesh Khurana. 2007. "Estimating the Value of Connections to Vice-President Cheney." Working paper, Columbia Univ.
23. Fisman, Raymond. 2001. "Estimating the Value of Political Connections." A.E.R. 91:1095-1102.
24. Galí, Jordi, J. David López-Salido, and Javier Vallés. 2007. "Understanding the Effects of Government Spending on Consumption." J. European Econ. Assoc. 5: 227-70.
25. Galloway, George. 1946. Congress at the Cross-Roads. New York: Crowell.
26. Garcia, Diego, and Oyvind Norli. 2010. "Geographic Dispersion and Stock Returns." Working paper, Univ. North Carolina-Chapel Hill.
27. Giavazzi, Francesco, and Marco Pagano. 1990. "Can Severe Fiscal Contractions Be Expansionary?" In NBER Macroeconomics Annual, vol. 5, edited by Olivier Jean Blanchard and Stanley Fischer. Cambridge, MA: MIT Press.
28. Goldman, Eitan, Jörg Rocholl, and Jongil So. 2008. "Political Connections and the Allocation of Procurement Contracts." Working paper, Indiana Univ.
29. Goldman, Eitan, Jörg Rocholl, and Jongil So. 2009. "Do Politically Connected Boards Affect Firm Value?" Rev. Financial Studies 22 (6): 2331-60.
30. Goodwin, George. 1959. "The Seniority System in Congress." American Polit. Sci. Rev. 53:412-36.
31. Goss, Caroline. 1972. "Military Committee Membership and Defense-Related Benefits in the House of Representatives." Western Polit. Q. 25:215-33.
32. Greene, Kenneth, and Vincent Munley. 1980. "The Productivity of Legislators' Tenure: A Case Lacking in Evidence." J. Legal Studies 10:207-14.
33. Gruber, Jonathan, and Daniel M. Hungerman. 2007. "Faith-Based Charity and Crowd Out during the Great Depression." J. Public Econ. 91:1043-69.
34. Hoover, Gary, and Paul Pecorino. 2005. "The Political Determinants of Federal Expenditure at the State Level." Public Choice 123:95-113.
35. Jayachandran, Seema. 2006. "The Jeffords Effect." J. Law and Econ. 49:397-425.
36. Kiel, Lisa, and Richard McKenzie. 1983. "The Impact of Tenure on the Flow of Federal Benefits to SMSAs." Public Choice 41:285-93.
37. Knight, Brian G. 2002. "Endogenous Federal Grants and Crowd-Out of State Government Spending: Theory and Evidence from the Federal Highway Aid Program." A.E.R. 92:71-92.
38. Knight, Brian G. 2005. "Estimating the Value of Proposal Power." A.E.R. 95:1639-52.
39. Levitt, Steven, and James Poterba. 1999. "Congressional Distributive Politics and State Economic Performance." Public Choice 99:185-216.
40. Manchester, William. 1974. The Glory and the Dream: A Narrative History of America, 1932-1972. Boston: Little, Brown.
41. Mountford, Andrew, and Harald Uhlig. 2002. "What Are the Effects of Fiscal Policy Shocks?" Discussion Paper no. 3338, Centre Econ. Policy Res., London.
42. Nakamura, Emi, and Jon Steinsson. "Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions." Working paper, Columbia Univ.
43. Pappa, Evi. 2005. "New Keynesian or RBC Transmission? The Effects of Fiscal Policy in Labor." Discussion paper, London School Econ.
44. Perotti, Roberto. 2005. "Estimating the Effects of Fiscal Policy in OECD Countries." Discussion paper, Centre Econ. Policy Res., London.
45. Polsby, Nelson, Miriam Gallaher, and Barry Rundquist. 1969. "The Growth of the Seniority System in the U.S. House of Representatives." American Polit. Sci. Rev. 63:787-807.
46. Ramey, Valerie. 2008. "Identifying Government Spending Shocks: It's All in the Timing." Working paper, Univ. California, San Diego.
47. Ramey, Valerie, and Matthew Shapiro. 1998. "Costly Capital Reallocation and the Effects of Government Spending." Carnegie Rochester Conf. Ser. Public Policy 48:145-94.
48. Ray, Bruce. 1980. "Congressional Promotion of District Interests: Does Power on the Hill Really Make a Difference?" In Political Benefits: Empirical Studies of American Public Programs, edited by B. Rundquist, 1-35. Lexington, MA: Lexington.
49. Ray, Bruce. 1981. "Military Committee Membership in the House of Representatives and the Allocation of Defense Department Outlays." Western Polit. Q. 34:222-34.
50. Ritt, Leonard. 1976. "Committee Position, Seniority, and the Distribution of Government Expenditures." Public Policy 24:469-97.
51. Roberts, Brian. 1990. "A Dead Senator Tells No Lies: Seniority and the Distribution of Federal Benefits." American J. Polit. Sci. 34:31-58.
52. Rotemberg, Julio, and Michael Woodford. 1992. "Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity." J.P.E. 100:1153-1207.
53. Rundquist, Barry. 1978. "On Testing a Military Industrial Complex Theory." American Politics Q. 6:29-53.
54. Rundquist, Barry, and David Griffith. 1976. "An Interrupted Time-Series Test of the Distributive Theory of Military Policy-Making." Western Polit. Q. 29:620-26.
55. Serrato, Juan Carlos Suarez, and Philippe Wingender. 2011. "Local Fiscal Multipliers." Working paper, Univ. California, Berkeley.
56. Shoag, Daniel. "The Impact of Government Spending Shocks: Evidence on the Multiplier from State Pension Plan Returns." Working paper, Harvard Univ.
57. Wilson, Daniel. 2011. "Fiscal Spending Jobs Multiplier: Evidence from the 2009 American Recovery and Reinvestment Act." Working paper, Fed. Reserve Bank San Francisco.