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The distributional consequences of rent seeking

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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The distributional consequences of rent seeking. / Angelopoulos, Angelos; Angelopoulos, Konstantinos; Lazarakis, Spyridon et al.
In: Economic Inquiry, Vol. 59, No. 4, 31.10.2021, p. 1616-1640.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Angelopoulos, A, Angelopoulos, K, Lazarakis, S & Philippopoulos, A 2021, 'The distributional consequences of rent seeking', Economic Inquiry, vol. 59, no. 4, pp. 1616-1640. https://doi.org/10.1111/ecin.13009

APA

Angelopoulos, A., Angelopoulos, K., Lazarakis, S., & Philippopoulos, A. (2021). The distributional consequences of rent seeking. Economic Inquiry, 59(4), 1616-1640. https://doi.org/10.1111/ecin.13009

Vancouver

Angelopoulos A, Angelopoulos K, Lazarakis S, Philippopoulos A. The distributional consequences of rent seeking. Economic Inquiry. 2021 Oct 31;59(4):1616-1640. Epub 2021 Jul 14. doi: 10.1111/ecin.13009

Author

Angelopoulos, Angelos ; Angelopoulos, Konstantinos ; Lazarakis, Spyridon et al. / The distributional consequences of rent seeking. In: Economic Inquiry. 2021 ; Vol. 59, No. 4. pp. 1616-1640.

Bibtex

@article{5388e27fed8041a2bc44e1d305c607ba,
title = "The distributional consequences of rent seeking",
abstract = "We analyse the distributional effects of rent seeking via the financial sector in a model calibrated to US data. Rent seeking implies a misallocation of resources that increases wealth inequality among non rent seekers and for the whole economy. A deterioration in institutional quality implying more rent seeking leads to welfare losses for non rent seekers, especially for those with higher earnings and initial wealth, because they are most affected by the deterioration of the aggregate economy. On the other hand, welfare gains are larger for rent seekers with higher earnings and wealth, who have an increased resource extraction capacity.",
keywords = "wealth distribution, rent seeking, conditional welfare changes",
author = "Angelos Angelopoulos and Konstantinos Angelopoulos and Spyridon Lazarakis and Apostolis Philippopoulos",
year = "2021",
month = oct,
day = "31",
doi = "10.1111/ecin.13009",
language = "English",
volume = "59",
pages = "1616--1640",
journal = "Economic Inquiry",
issn = "0095-2583",
publisher = "Wiley-Blackwell",
number = "4",

}

RIS

TY - JOUR

T1 - The distributional consequences of rent seeking

AU - Angelopoulos, Angelos

AU - Angelopoulos, Konstantinos

AU - Lazarakis, Spyridon

AU - Philippopoulos, Apostolis

PY - 2021/10/31

Y1 - 2021/10/31

N2 - We analyse the distributional effects of rent seeking via the financial sector in a model calibrated to US data. Rent seeking implies a misallocation of resources that increases wealth inequality among non rent seekers and for the whole economy. A deterioration in institutional quality implying more rent seeking leads to welfare losses for non rent seekers, especially for those with higher earnings and initial wealth, because they are most affected by the deterioration of the aggregate economy. On the other hand, welfare gains are larger for rent seekers with higher earnings and wealth, who have an increased resource extraction capacity.

AB - We analyse the distributional effects of rent seeking via the financial sector in a model calibrated to US data. Rent seeking implies a misallocation of resources that increases wealth inequality among non rent seekers and for the whole economy. A deterioration in institutional quality implying more rent seeking leads to welfare losses for non rent seekers, especially for those with higher earnings and initial wealth, because they are most affected by the deterioration of the aggregate economy. On the other hand, welfare gains are larger for rent seekers with higher earnings and wealth, who have an increased resource extraction capacity.

KW - wealth distribution

KW - rent seeking

KW - conditional welfare changes

U2 - 10.1111/ecin.13009

DO - 10.1111/ecin.13009

M3 - Journal article

VL - 59

SP - 1616

EP - 1640

JO - Economic Inquiry

JF - Economic Inquiry

SN - 0095-2583

IS - 4

ER -