measure of innovation alternative to patent count. Unlike the impact on patent count, we do not find that VC investment … impact on patent count at industry level, and this impact is larger than that of R&D expenditures. We confirm that this … unprecedented growth. We then proceed to study if this positive impact of VC is also present on productivity growth, which is a …

Modern growth theory puts invention on the center stage. Inventions are created by individuals, raising the question … invention, using data on U.S. patents’ Finnish inventors and the distance to the nearest technical university as an instrument …. We find a positive effect of engineering education on the propensity to patent, and a negative OLS bias. Our …

We develop a theory of innovation for entry and sale into oligopoly, and show that an invention of higher quality is … allocated to high-quality invention projects. Using data on patents granted to small firms and individuals, we find evidence …

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

constraints affect a firm's innovation and export activities. Theoretical predictions are tested using unique firm survey data … the technological frontiers. Furthermore, the negative effect of financial constraints on productivity is amplified as … these constraints force export and innovation activities to become substitutes even when these activities are natural …

future of innovation? First-rate inventions in the 1990s, notably the web and user-friendly business productivity software …Productivity growth in the United States was considerably faster during 2000-03 than in the boom years of 1995 …-2000. This ebullient productivity performance raises numerous questions about its interpretation and its implications for the …

technologies, leading to higher productivity. We propose a model of endogenous selection and innovation in heterogeneous firms that … product and process innovation (simultaneously adopting new machines and organizational practices) and adopt foreign … jointly explains the observed selection process and the innovation decisions. Further, we show in the data that innovation on …

Do firms have the right incentives to innovate in the presence of productivity spillovers? This paper proposes an … imitate by hiring a worker from a firm that has already innovated. We show that if innovation firms can commit to long …-term wage contracts with their workers, productivity spillovers are fully internalized. If firms cannot commit to long-term wage …

This paper examines the interdependence between innovation and imports of intermediates, and their joint impact on … productivity. We do so by developing a quantitative model with heterogeneous firms and international trade where firms can invest … cover the fixed costs of sourcing foreign inputs, which in turn also has a benign impact on measured productivity. Using …