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http://ssrn.com/abstract=895721
 
 

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Courts, Congress and Public Policy, Part I: The FDA, the Courts and the Regulation of Tobacco


Mathew D. McCubbins


Duke University

Jeffrey R. Lax


Columbia University - Department of Political Science

April 7, 2006

San Diego Legal Studies Paper No. 07-42

Abstract:     
We test the public policy impact of court decisions relative to Congress and the executive by examining the FDA's proposals to regulate tobacco products. To measure impact we utilize an event study methodology that measures how a court decision affects the returns of selected publicly traded firms. This approach allows us to sort out the decisiveness of court decisions that occur in the shadow of the executive and congressional power, as well as to sort out the power of judges within the judicial hierarchy. We find that courts, including District Courts, have the ability to affect significantly the expected profits of firms.

Number of Pages in PDF File: 43

Keywords: regulation, political economy, food and drug

JEL Classification: K00, K13, K23

working papers series


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Date posted: April 8, 2006  

Suggested Citation

McCubbins, Mathew D. and Lax, Jeffrey R., Courts, Congress and Public Policy, Part I: The FDA, the Courts and the Regulation of Tobacco (April 7, 2006). San Diego Legal Studies Paper No. 07-42. Available at SSRN: http://ssrn.com/abstract=895721 or http://dx.doi.org/10.2139/ssrn.895721

Contact Information

Mathew D. McCubbins (Contact Author)
Duke University ( email )
Department of Political Science
208 Gross Hall, 140 Science Drive
Durham, NC 27708
United States
(213) 973-7538 (Phone)
(213) 973-3623 (Fax)
HOME PAGE: http://mccubbins.us
Jeffrey R. Lax
Columbia University - Department of Political Science ( email )
MC3320
420 West 118th Street
New York, NY 10027
United States
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