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Persistent link: https://www.econbiz.de/10014491968
The main objective of this paper is to analyze the links between product market competition, innovation and growth. In … a step-by step innovation model we explicitly introduce the distinction between knowledge and technology information … flow increases the positive effect of competition on innovation and growth while the technology information flow has a …
Persistent link: https://www.econbiz.de/10013029477
This paper studies the effect of competition on firm innovation by developing a discrete-time endogenous growth model … where multi-product firms do two types of innovation subject to friction in technology spillovers. Firms improve their … existing products through internal innovation while entering others' product markets through external innovation. We introduce …
Persistent link: https://www.econbiz.de/10013226722
We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is independent of the social welfare function and...
Persistent link: https://www.econbiz.de/10011280819
We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is independent of the social welfare function and...
Persistent link: https://www.econbiz.de/10011283108
This paper investigates household decisions, and optimal taxation in an overlapping generations model in which individual utility depends on a weighted average of consumption of ones peers — a “keeping up with the Joneses” consumption externality. In contrast to representative agent...
Persistent link: https://www.econbiz.de/10011523661
This paper characterizes the optimal income and wealth tax schedules when rates of return are endogenous. Individuals exert investment effort in order to increase the return on their investments. Agents are heterogeneous along two dimensions: their investment ability and their labour market...
Persistent link: https://www.econbiz.de/10011459208
This paper analyzes Pareto optimal taxation of labor and capital income in a lifecycle framework with private information and idiosyncratic risk. We focus on historyindependent tax systems. We thereby complement the Mirrlees taxation literature, which has so far typically either characterized...
Persistent link: https://www.econbiz.de/10011490557
Several frictions restrict the government's ability to tax assets. First, it is very costly to monitor trades on international asset markets. Second, agents can resort to nonobservable low-return assets such as cash, gold or foreign currencies if taxes on observable assets become too high. This...
Persistent link: https://www.econbiz.de/10010467365