Rent seeking /

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Bibliographic Details
Author / Creator:Chakraborty, Shankha, author.
Imprint:Washington, D.C. : International Monetary Fund, ©2005.
Description:1 online resource (28 pages) : illustrations
Language:English
Series:IMF working paper, 2227-8885 ; WP/05/43
IMF working paper ; WP/05/43.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12496711
Hidden Bibliographic Details
Other authors / contributors:Dabla-Norris, Era, author.
International Monetary Fund, issuing body.
IMF Institute.
ISBN:1282049720
9781282049727
9781451905984
145190598X
1462307469
9781462307463
145199544X
9781451995442
9786613798022
6613798029
Notes:Includes bibliographical references (pages 26-28).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper examines the relationship between rent seeking and economic performance when governments cannot enforce property rights. With imperfect credit markets and a fixed cost of rent seeking, only wealthy agents choose to engage in it, since it enables them to protect their wealth from expropriation. Hence, the level of rent seeking and economic performance are determined by the initial distribution of income and wealth. When individuals also differ in their productivity, not all wealthy agents become rent seekers and the social costs of rent seeking are typically lower. In both cases, multiple equilibria with different levels of rent seeking and production are possible.
Other form:Print version: Chakraborty, Shankha. Rent seeking. Washington, D.C. : International Monetary Fund, ©2005
Standard no.:10.5089/9781451905984.001

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520 |a This paper examines the relationship between rent seeking and economic performance when governments cannot enforce property rights. With imperfect credit markets and a fixed cost of rent seeking, only wealthy agents choose to engage in it, since it enables them to protect their wealth from expropriation. Hence, the level of rent seeking and economic performance are determined by the initial distribution of income and wealth. When individuals also differ in their productivity, not all wealthy agents become rent seekers and the social costs of rent seeking are typically lower. In both cases, multiple equilibria with different levels of rent seeking and production are possible. 
588 0 |a Print version record. 
505 0 |a Contents -- I. INTRODUCTION -- II. MODEL -- III. KEY ASSUMPTIONS -- IV. EXTENSIONS -- V. CONCLUSION -- REFERENCES 
546 |a English. 
650 0 |a Rent (Economic theory)  |x Econometric models. 
650 0 |a Income distribution  |x Econometric models. 
650 6 |a Rente (Théorie économique)  |x Modèles économétriques. 
650 6 |a Revenu  |x Répartition  |x Modèles économétriques. 
650 7 |a Income distribution  |x Econometric models.  |2 fast  |0 (OCoLC)fst00968672 
650 7 |a Rent (Economic theory)  |x Econometric models.  |2 fast  |0 (OCoLC)fst01094667 
655 4 |a Electronic books. 
655 0 |a Electronic books. 
700 1 |a Dabla-Norris, Era,  |e author.  |0 http://id.loc.gov/authorities/names/no99084010 
710 2 |a International Monetary Fund,  |e issuing body.  |0 http://id.loc.gov/authorities/names/n81052755 
710 2 |a IMF Institute.  |0 http://id.loc.gov/authorities/names/n81065613 
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