Showing 1 - 10 of 171
Recent work documents that better legal institutions are associated with broader equity markets. We investigate whether international differences in legal institutions also help explain the international cross-section of expected stock returns. We document three main regularities. First, total...
Persistent link: https://www.econbiz.de/10005123538
We analyze how the law and its enforcement affect equity market equilibrium. Improvements in the legal system, while invariably associated with broader equity markets, have different effects on equity returns depending on the institutional change considered and on the degree of international...
Persistent link: https://www.econbiz.de/10005792541
competition for the innovation, without reducing the total rents for innovations too much. … product competition tends to increase the relative profitability of innovation for sale relative to entry. Increased …, incumbents' valuations of innovations are less negatively affected by increased competition than entrants' profits. This, in turn …
Persistent link: https://www.econbiz.de/10005497863
an increase in either the size or the frequency of innovations, from human capital accumulation through learning … of innovations or through introducing learning by doing with positive external effects across sectors) introduces new …
Persistent link: https://www.econbiz.de/10005656258
This paper considers a dynamic North South model of international trade and innovations in which firms can endogenously …
Persistent link: https://www.econbiz.de/10005114403
This Paper presents a model of innovations and economic growth, in which patent rates emerge endogenously, as a result … of two assumptions: first, R&D is innovation-specific, second, marginal cost of innovation is increasing. The Paper then …-inefficient, as too many researchers look for the easy innovations, while too few search for the difficult ones. The third result is …
Persistent link: https://www.econbiz.de/10005662359
This paper assesses the effects of applying VAT or a sales tax on (intermediate or final) sales of the financial sector. It uses a CGE Model calibrated for a small open economy. It highlights the differentiated sectoral and redistributional effects of these taxes and shows the importance of the...
Persistent link: https://www.econbiz.de/10011084284
This paper addresses the nature, formalization, and neural bases of (affective) social ties and discusses the relevance of ties for health economics. A social tie is defined as an affective weight attached by an individual to the well-being of another individual (‘utility interdependence’)....
Persistent link: https://www.econbiz.de/10005666453
individual level, examining the relationship between religiosity and a broad set of pro- or anti-innovation attitudes in all five … waves of the World Values Survey (1980 to 2005). We thus relate eleven indicators of individual openness to innovation … innovation. …
Persistent link: https://www.econbiz.de/10011213308
This paper studies the effect of top tax rates on inventors' mobility since 1977. We put special emphasis on "superstar" inventors, those with the most and most valuable patents. We use panel data on inventors from the United States and European Patent Offices to track inventors' locations over...
Persistent link: https://www.econbiz.de/10011272707