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Public Support for Innovation, Intangible Investment and Productivity Growth in the UK Market Sector
Haskel, Jonathan; Wallis, Gavin - C.E.P.R. Discussion Papers - 2010
Pressure on public finances has increased scrutiny of public support for innovation. We examine two particular issues. First, there have been many recent calls for the (relatively new) UK R&D subsidy to be extended to other "research" activities, such as software. Second, argument still rages...
Persistent link: https://www.econbiz.de/10008468645
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Financial Development, Property Rights and Growth
Claessens, Stijn; Laeven, Luc - C.E.P.R. Discussion Papers - 2002
This Paper investigates how the legal framework not only affects the amount of external financing available, but also firms’ resource allocation among different types of assets. Using a simple model, we show that in a weaker legal environment a firm will get less financing, and thus invest...
Persistent link: https://www.econbiz.de/10005504760
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Knowledge Spillovers, ICT and Productivity Growth
Corrado, Carol; Haskel, Jonathan; Jona-Lasinio, Cecilia - C.E.P.R. Discussion Papers - 2014
This paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU member states from 1998 to 2007. We find that (a) the...
Persistent link: https://www.econbiz.de/10011084334
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Assessing agglomeration economies in a spatial framework with endogenous regressors
Artis, Michael J; Miguélez, Ernest; Moreno, Rosina - C.E.P.R. Discussion Papers - 2009
This paper is concerned with the influence of agglomeration economies on economic outcomes across British regions. The concentration of economic activity in one place can foster economic performance due to the reduction in transportation costs, the ready availability of customers and suppliers,...
Persistent link: https://www.econbiz.de/10005791212
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How Much Does the UK Invest in Intangible Assets?
Giorgio Marrano, Mauro; Haskel, Jonathan - C.E.P.R. Discussion Papers - 2007
We attempt to replicate for the UK the Corrado, Hulten and Sichel (2005, 2006) work on spending on intangible assets in the US. Their work suggests private sector expenditure (investment) on intangibles is about 13% (11%) of US GDP 1998-2000, with intangible investment about equal to tangible...
Persistent link: https://www.econbiz.de/10005656338
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Cross Sectional Facts for Macroeconomists
Krueger, Dirk; Perri, Fabrizio; Pistaferri, Luigi; … - C.E.P.R. Discussion Papers - 2009
cycle, of several dimensions of economic inequality, including wages, labor earnings, income, consumption, and wealth. After …
Persistent link: https://www.econbiz.de/10008509469
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On the Long Run Evolution of Inheritance - France 1820-2050*
Piketty, Thomas - C.E.P.R. Discussion Papers - 2010
1950, and back up to about 15% by 2010. A simple theoretical model of wealth accumulation, growth and inheritance can fully … wealth accumulation well above 100%. Our findings illustrate the fact that when the growth rate g is small, and when the rate … of return to private wealth r is permanently and substantially larger than the growth rate (say, r=4%-5% vs. g=1 …
Persistent link: https://www.econbiz.de/10008468507
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Sequencing regionalism: Theory, European practice, and lessons for Asia
Baldwin, Richard - C.E.P.R. Discussion Papers - 2010
Feedback mechanisms are the key to sequencing when it comes to regional integration. Feedback mechanisms can mean that today’s policy or institution alters the political economy landscape in a way that makes it politically optimal for future governments to take further steps towards...
Persistent link: https://www.econbiz.de/10008468652
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Consumption, Aggregate Wealth and Expected Stock Returns
Lettau, Martin; Ludvigson, Sydney - C.E.P.R. Discussion Papers - 1999
This paper studies the role of detrended wealth in predicting stock returns. We call a transitory movement in wealth … we find that these trend deviations in wealth are strong predictors of both real stock returns and excess returns over a …. Why should wealth, detrended in this way, forecast asset returns? We show that a wide class of optimal models of consumer …
Persistent link: https://www.econbiz.de/10005123769
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Inequality, Leverage and Crises
Kumhof, Michael; Rancière, Romain - C.E.P.R. Discussion Papers - 2011
The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2007 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial...
Persistent link: https://www.econbiz.de/10008784720