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Financial Innovation and the Neutrality of Money

Moore, Michael J - C.E.P.R. Discussion Papers - 1991

It is argued that financial innovation, in so far as it affects the technology for carrying out transactions, is … main conclusion is that financial innovation of this kind can lead to co-ordination failure in the financial sector …

Persistent link: https://www.econbiz.de/10005791957

The Financing of Innovation: Learning and Stopping

Bergemann, Dirk; Hege, Ulrich - C.E.P.R. Discussion Papers - 2001

This Paper considers the financing of a research project under uncertainty about the time of completion and the probability of eventual success. The uncertainty about future success diminishes gradually with the arrival of additional funding. The entrepreneur controls the funds and can divert...

Persistent link: https://www.econbiz.de/10005791971

The Rules of Standard Setting Organizations: An Empirical Analysis

Chiao, Benjamin; Lerner, Josh; Tirole, Jean - C.E.P.R. Discussion Papers - 2007

This paper empirically explores standard-setting organizations’ policy choices. Consistent with Lerner-Tirole (2006), we find (a) a negative relationship between the extent to which an SSO is oriented to technology sponsors and the concession level required of sponsors and (b) a positive...

Persistent link: https://www.econbiz.de/10005792070

R&D Cooperation and the Stability of International Environmental Agreements

Carraro, Carlo; Siniscalco, Domenico - C.E.P.R. Discussion Papers - 1995

International agreements to protect the global environment are typically difficult to reach. In principle they should be profitable for all players involved in the negotiation. Even when they are profitable, however, they are often unstable due to the incentive to free-ride (enjoying the clean...

Persistent link: https://www.econbiz.de/10005792083

Entrepreneurs and New Ideas

Biais, Bruno; Perotti, Enrico C - C.E.P.R. Discussion Papers - 2003

Innovative ideas are novel combinations of productive resources potentially addressing an economic need (Schumpeter, 1926). Even promising ideas can be unprofitable if the proposed combination fails on at least one dimension, e.g., it is technically unfeasible or does not respond to a genuine...

Persistent link: https://www.econbiz.de/10005792312

Structural Change and the Kaldor Facts of Economic Growth

Foellmi, Reto; Zweimüller, Josef - C.E.P.R. Discussion Papers - 2002

We present a model in which two of the most important features of the long-run growth process are reconciled: the massive changes in the structure of production and employment; and the Kaldor facts of economic growth. We assume that households expand their consumption along a hierarchy of needs...

Persistent link: https://www.econbiz.de/10005792315

Growth, Distance to Frontier and Composition of Human Capital

Aghion, Philippe; Meghir, Costas; Vandenbussche, Jérôme - C.E.P.R. Discussion Papers - 2005

innovation and imitation. We develop a theoretical model showing that skilled labour has a higher growth-enhancing effect closer … to the technological frontier under the reasonable assumption that innovation is a relatively more skill intensive …

Persistent link: https://www.econbiz.de/10005792394

Innovation and the Export-productivity Link

Cassiman, Bruno; Golovko, Elena - C.E.P.R. Discussion Papers - 2007

We explore the relationship between innovation activity, productivity, and exports using a panel of Spanish … manufacturing firms for 1990-1998. Our results - based on non-parametric tests - suggest that firm innovation status is important in … innovation seems to explain the positive association between exports and productivity for this group of firms. For small non …

Persistent link: https://www.econbiz.de/10005792473

Spatial Development

Desmet, Klaus; Rossi-Hansberg, Esteban - C.E.P.R. Discussion Papers - 2009

We present a theory of spatial development. A continuum of locations in a geographic area choose each period how much to innovate (if at all) in manufacturing and services. Locations can trade subject to transport costs and technology diffuses spatially across locations. The result is an...

Persistent link: https://www.econbiz.de/10008566320

Entrepreneurial Innovations, Entrepreneurship Policy and Globalization

Douhan, Robin; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2010

What explains the world-wide trend of pro-entrepreneurial policies? We study entrepreneurial policy in a lobbying model taking into account the conflict of interest between entrepreneurs and incumbents. It is shown that international market integration leads to more pro-entrepreneurial policies....

Persistent link: https://www.econbiz.de/10008530366