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《The Personal Wealth Interests of Politicians and the Stabilization of Financial Markets Ahmed Tahoun1 and Laurence van Lent政治家和个人财富》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。
1、ThePersonalWealthInterestsofPoliticiansandtheStabilizationofFinancialMarkets12∗AhmedTahounandLaurencevanLentWorkingPaperNo.52October19,2016ABSTRACTWeexaminewhetherpersonalwealthinterestsaffectpoliticians’decisionsaboutstabilizingfinancialmarkets.Weusethesettingofthegovernme
2、nt’ssupportoffinancialinstitutionsunderthe2008EmergencyEconomicStabilizationAct.WefindthatthepersonalwealthinterestsofpoliticiansarepositivelyassociatedwithvotinginfavoroftheEESA.Weimplementseveralanalysestoshowthatpersonalwealthinterestsratherthanunobservablebeliefsinthefi
3、nancialsectorexplainourresult.JELCodes:D02,D71,D72,G14,G28,G38,P16Keywords:EmergencyEconomicStabilizationAct,USCongressmembers,FinancialInstitutions1LondonBusinessSchool,Regent'sPark,London,NW14SA,UnitedKingdomatahoun@london.edu2TilburgUniversity,CentERforEconomicResearch,P
4、OBox90153,5000LETilburg,theNetherlandsvanlent@uvt.nl∗PartofthisresearchwasundertakenwhenAhmedTahounwasavisitingscholarattheWhartonSchoolandLaurencevanLentwasavisitingfellowattheInitiativeonGlobalMarketsoftheUniversityofChicago.WethankArianBorgers,Chung-YuHung,WimJanssen,and
5、MiaoNieforableresearchassistance.WearegratefulforhelpfulcommentsfromparticipantsattheVIIWorkshoponEmpiricalResearchinFinancialAccountinginCartagena,andthe2011AmericanEconomicAssociationannualmeeting.WealsothanktheworkshopparticipantsattheUniversityofAmsterdam,theUniversityo
6、fChicago,theUniversityofMannheim,LancasterUniversity,LBS,LSE,andTilburgUniversity;andDaronAcemoglu,SanjayBissessur,TomFerguson,TarekHassan,HarryHuizinga,ValeriNikolaev,andSamPeltzman.AhmedTahounacknowledgesthefinancialcontributionoftheEuropeanCommissionResearchTrainingNetwo
7、rkINTACCT(MRTN-CT-2006-035850).1IntroductionWeuseunique,comprehensivedataonthewealthofUSpoliticiansduringthefinancialcrisisof2008todocumentempiricallythatthepersonalwealthinterestsofpoliticianshaveastrongassociationwiththeirvotetorescuefinancialinstitutions.Theeffectofperso
8、nalwealthinterestsremainseconomicallymeaningfuleveninthepresenceofcompetinginteres
