The control of politicians in normal times and times of crisis
Subtitle: wealth accumulation by U.S. congressmen, 1850-1880
By: Pablo Querubin, James M. Snyder, Jr..
Contributors: Snyder, Jr., James M.; National Bureau of Economic Research
Series: NBER working paper series -- working paper 17634; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 17634.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "We employ a regression discontinuity design based on close elections to estimate the rents from a seat in the U.S.  congress between 1850-1880.  Using census data, we compare wealth accumulation among those who won or lost their first race by a small margin.  We find evidence of significant returns for the first half of the 1860s, during the Civil War, but not for other periods.  We hypothesize that increased opportunities from the sudden spike in government spending during the war and the decrease in control by the media and other monitors might have made it easier for incumbent congressmen to collect rents"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 2/9/2012.

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