HOW TO CONSIDER GOVERNANCE IN ECONOMIC POLICY MODELING?

Beatriz Gaitan () and Ferdinand Pavel

No 20566, 2001 Annual meeting, August 5-8, Chicago, IL from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: 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.

Keywords: Political; Economy (search for similar items in EconPapers)
Pages: 34
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea01:20566

DOI: 10.22004/ag.econ.20566

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