Maliranta, Mika; Määttänen, Niku - Elinkeinoelämän Tutkimuslaitos (ETLA) - 2014
market equilibrium and whether innovation subsidies can improve industry productivity by mitigating such a tax distortion. …Radical innovations require risk-taking. However, it is hard to find an objective measure for innovation investments … that would take riskiness into account. In this paper, we investigate how a simple measure of firms’ innovation investments …