Small Campaign Donors

We gratefully acknowledge helpful comments and suggestions from discussions by Mike Barber and Alexander Fouirnaies, seminar participants at HEC Montreal, New York University, Princeton University, the Joint-School Online Political Economy Seminar, Sciences Po Paris, and the Virtual Quantitative Marketing Seminar, and conference participants at the CBS-Princeton Money in Politics Conference, the CEPR Political Economy Symposium, the EJPE Conference, the NBER Summer Institute, and UC Berkeley’s Research Workshop on American Politics. Joaquín Barrutia, Sara Caicedo Silva, Circé Maillet, Juan Margitic, Luke Miller, JJ Naddeo, Vincent Rollet, Evan Soltas and Lucie Xu provided outstanding research assistance. We are grateful to Jörg Spenkuch and David Toniatti for their help with using the code and data from Spenkuch and Toniatti (2018). The research leading to this project has received funding from the European Research Council under the European Union’s Horizon 2020 research and innovation programme (Grant Agreement no. 948516). All errors remain our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

• data appendix

• May 12, 2022
• July 31, 2024