We study the link between homeownership, mortgage debt, and entrepreneurship using a model of occupational choice and … homeowners start a business; and (ii) the negative relation between mortgage debt and entrepreneurship is more pronounced when … income volatility is higher. Our model further predicts that the relation between housing wealth and entrepreneurship is …

defend their monopoly position and prevent innovation and entry of high-quality competitors. This requires that the incumbent … quality upgrade related to innovation. Consistently with our empirical findings, the model delivers a negative association …

This paper estimates the effect of innovation on employment at the firm level. Our uniquely long innovation panel data … set of German manufacturing firms covers more than 20 years and allows us to use various innovation measures. We can … distinguish between product and process innovations as well as between innovation inputs and innovation outputs. Using dynamic …

Trade and growth theories predict a mutual causation of innovation and exports. We test empirically whether innovation … exogenous to firms’ export performance. We find that innovation attributable to this variation leads to an increase of roughly 7 …

We empirically investigate whether the persistence of politicians in political institutions affects the innovation …’ innovation activity. However, once the causal effect is isolated by means of instrumental variables, using death of politicians … persistence and the probability of process innovation. This finding is consistent with the view that political stability may …