Prize-Winning Innovations in Measuring Civic Capital and Its Effects

The European Economic Association has announced that this year’s Hicks Tinbergen medal will go to ProMarket editor and Stigler Center faculty director Luigi Zingales and his coauthors Luigi Guiso and Paola Sapienza for their 2016 paper “Long-Term Persistence.” Here, a current coauthor of Sapienza and Zingales credits the prizewinners with helping to make the study of informal institutions mainstream in economics.  

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When Taxpayers Subsidize Corporate Lobbying: How Firms Use Charitable Giving to Influence Politics

A new Stigler Center working paper examines a more roundabout way that companies can influence legislators: by donating money to charities in lawmakers’ districts. The authors find that the magnitude of these tax-exempt charitable flows dwarfs what firms spend in PACs.  

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Colluding in Plain Sight: Study Finds Airlines Use Earnings Calls to Coordinate Capacity Reductions

What are airline executives really saying to each other with their extensive discussion of “capacity discipline”? New research from the University of Virginia finds talk of capacity discipline during quarterly earnings calls precedes coordinated capacity reductions by legacy airlines.  

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