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Political Power and Market Power

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  • Cowgill, Bo
  • Prat, Andrea
  • Valletti, Tommaso

Abstract

We study the link between political influence and industrial concentration. A model of firm lobbying shows that concentration and regulation may be either strategic complements or substitutes. Using data for the past 20 years in the US, we study whether merging firms’ influence activity increases or decreases after a merger. We document an increase in lobbying activity and we find some evidence for an increase in campaign contributions.

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  • Cowgill, Bo & Prat, Andrea & Valletti, Tommaso, 2022. "Political Power and Market Power," CEPR Discussion Papers 17178, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:17178
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    Cited by:

    1. Budzinski, Oliver, 2021. "Wettbewerbsordnung und digitale Medienmärkte," Ilmenau Economics Discussion Papers 153, Ilmenau University of Technology, Institute of Economics.

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