firm level. The first part of our analysis is dedicated to the determinants of innovation and reveals two different … innovation regimes. On the one hand, radical innovations rely strongly on firm-level spillovers, including property rights, and … innovation height matters. We also find evidence that TFP growth is better represented by an upward shift of the production …

This paper constructs an equilibrium model of entrepreneurial innovation where individuals differ in their attitude … toward uncertainty. Unlike previous models of innovation, the firm-formation process is endogenous. An entrepreneur, who owns …'s willingness to work with the uncertain technology. The general equilibrium setting allows us to explore the impact of innovation …

This paper presents a dynamic partial equilibrium model that endogenizes firms' investment decision on innovation …: product innovation causes horizontal expansion growth, and process innovation causes vertical expansion growth. Market … structure in different markets emerges as a consequence of different investment on innovation opportunities. Main variables that …

A growth model with endogenous innovation and accumulation of high-tech and low- tech human capital is developed. The …