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Journal Article

Revolving Door Lobbyists

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Citation

Blanes i Vidal, J., Draca, M., & Fons-Rosen, C. (2012). Revolving Door Lobbyists. American Economic Review, 102(7), 3731-3748. doi:10.1257/aer.102.7.3731.


Cite as: https://hdl.handle.net/11858/00-001M-0000-002E-901F-A
Abstract
Washington's "revolving door"—the movement from government service into the lobbying industry—is regarded as a major concern for policy-making. We study how ex-government staffers benefit from the personal connections acquired during their public service. Lobbyists with experience in the office of a US Senator suffer a 24 percent drop in generated revenue when that Senator leaves office. The effect is immediate, discontinuous around the exit period, and long-lasting. Consistent with the notion that lobbyists sell access to powerful politicians, the drop in revenue is increasing in the seniority of and committee assignments power held by the exiting politician.