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The Impact of Money in Politics on Labor and Capital: Evidence from Citizens United v. FEC / Pat Akey, Tania Babina, Greg Buchak, Ana-Maria Tenekedjieva.
- Format:
- Book
- Author/Creator:
- Akey, Pat.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w31481.
- NBER working paper series no. w31481
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2023.
- Summary:
- We examine whether corporate money in politics benefits or hurts labor using the 2010 Supreme Court ruling Citizens United, which rendered bans on political election spending unconstitutional. In difference-in-difference analyses, affected states experience increases in both capital and labor income relative to unaffected states. We find evidence consistent with increased political spending spurring political competition and the adoption of pro-growth policies. These policies benefit a broader set of constituents as we find a broad-based increase in labor income. Affected states see increased political turnover and reduced regulatory burdens. The economic effects are stronger among ex-ante politically inactive and younger firms.
- Notes:
- Print version record
- July 2023.
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