We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are …

We consider an R&D-driven endogenous growth model in which innovation is risky and agents are risk averse. Growth is … social insurance, thus encouraging innovation and accelerating growth. The general equilibrium effects of the reallocation of …

Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that … when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics …

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex … welfare, amount of innovation and output growth at intermediate stages of technological development - periods when legal … problems are severe. For mature technologies the two legal systems are equivalent. We find that rigid legal systems may induce …

We study innovation contests with asymmetric information and identical contestants, where contestants’ efforts and … highest quality and receives the revenue generated by the innovation. We characterize the equilibrium behavior, outcomes and …

This paper studies the dynamic relationship between input and output of innovation in Dutch manufacturing using an … unbalanced panel of enterprise data from five waves of the Community Innovation Survey during 1994-2004. We estimate by maximum … persistence of innovation input and innovation output, a lag effect of the former on the latter and a feedback effect of the …

own innovation. The analysis predicts that the willingness to enforce IPR is U-shaped in a country GDP: small … enforcement of IPR yields a higher level of innovation and global welfare only if the developing country does not innovate. A …

This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly … individual effects and idiosyncratic errors correlated across equations and that differ in the way innovation enters the … Community Innovation Survey. The results provide evidence of robust unidirectional causality from innovation to productivity and …

causal effect of human capital on income, net of the innovation channel. …