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Distance to Frontier, Selection, and Economic Growth

Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2002

innovation activities. The selection of high-skill managers is more important for innovation activities. As the economy … investments, but little selection. Closer to the world technology frontier, there is a switch to an innovation-based strategy with …

Persistent link: https://www.econbiz.de/10005789082

Profit Taxation, Innovation and the Financing of Heterogeneous Firms

Keuschnigg, Christian; Ribi, Evelyn - C.E.P.R. Discussion Papers - 2010

endogenous share opts for innovation and faces credit constraints in the subsequent expansion phase. We emphasize four results …: (i) R&D subsidies not only encourage innovation but also relax finance constraints and help innovative firms to exploit … investment of constrained firms by reducing free cash-flow and thereby discourage innovation. (iii) A revenue neutral increase in …

Persistent link: https://www.econbiz.de/10008468605

Optimal Public Policy for Venture Capital Backed Innovation

Keuschnigg, Christian - C.E.P.R. Discussion Papers - 2003

regard to the capital gains tax, innovation subsidy, public R&D spending and other policy initiatives. …

Persistent link: https://www.econbiz.de/10005497714

Innovation, Trade, and Finance

Egger, Peter; Keuschnigg, Christian - C.E.P.R. Discussion Papers - 2011

This paper proposes a model where heterogeneous firms choose whether to undertake R&D or not. Innovative firms are more productive, have larger investment opportunities and lower own funds for necessary tangible continuation investments than non-innovating firms. As a result, they are...

Persistent link: https://www.econbiz.de/10009150949

Innovation vs imitation and the evolution of productivity distributions

König, Michael; Lorenz, Jan; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2012

We develop a tractable dynamic model of productivity growth and technology spillovers that is consistent with the emergence of real world empirical productivity distributions. Firms can improve productivity by engaging in in-house R&D, or alternatively, by trying to imitate other firms’...

Persistent link: https://www.econbiz.de/10011083921

Culture, Entrepreneurship, and Growth

Doepke, Matthias; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2013

We discuss the two-way link between culture and economic growth. We present a model of endogenous technical change where growth is driven by the innovative activity of entrepreneurs. Entrepreneurship is risky and requires investments that affect the steepness of the lifetime consumption profile....

Persistent link: https://www.econbiz.de/10011084260