BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//jEvents 2.0 for Joomla//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:0f7c65957ddfb605d17136c51fa227d4
CATEGORIES:Seminars
CREATED:20171102T191014
SUMMARY:Salome Baslandze - EIEF
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Connecting to Power: Political Connections, Innovation, and Firm Dynamics (
 with Ufuk Akcigit and Francesca Lotti)\n\n\n \nAbstract:\n Do political con
 nections affect firm and industry dynamics? We study the Italian firms and 
 their workers to answer this question. Our analysis uses a brand-new data s
 panning the period from 1993 to 2014 where we merge: (i) firm-level balance
  sheet data, (ii) universe of social security data on workers, (iii) patent
  data from the European Patent Office, (iv) registry of local politicians, 
 and (v) detailed data on local elections in Italy. We find that firm-level 
 political connections are widespread, especially among large firms, and tha
 t the industries with more politically connected firms feature worse firm d
 ynamics. Market leaders are much more likely to hire a politician and less 
 likely to innovate, compared to their competitors. In addition, connections
  relate to higher survival and growth in employment and sales but not in pr
 oductivity. We build a firm dynamics model where we allow firms to invest i
 n innovation and/or rent-seeking to advance their productivity and to overc
 ome regulatory or bureaucratic burden. The model highlights an interaction 
 between static gains and dynamic losses from rent-seeking for aggregate pro
 ductivity.\n
DTSTAMP:20260422T003743Z
DTSTART:20171002T170000Z
DTEND:20171002T183000Z
SEQUENCE:0
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR