Showing 1 - 10 of 190
It has been suggested in the literature that taxes and subsidies play an important role in explaining the differences … explaining this variation. I analyse two types of policies: childcare subsidies and family cash benefits. I distinguish between … people with children and people without children. Childcare subsidies should increase working hours in the economy and these …
Persistent link: https://www.econbiz.de/10010884607
cumulative innovation. This paper studies the effects of strategic patenting on R&D, patenting and market value in the computer … evidence that both strategic patenting and R&D spillovers strongly affect innovation and market value of software firms. …
Persistent link: https://www.econbiz.de/10010744919
When will reducing trade barriers against a low wage country cause innovation to increase in high wage regions like the … cost of innovating falls. Interestingly, the “China shock” is more likely to induce innovation than liberalization with … be faster long-run growth through innovation in the US and that, in the short run, this is magnified by the trapped …
Persistent link: https://www.econbiz.de/10010745467
cumulative innovation. This paper studies the effects of strategic patenting on R&D, patenting and market value in the computer … evidence that both strategic patenting and R&D spillovers strongly affect innovation and market value of software firms. …
Persistent link: https://www.econbiz.de/10010746431
This paper studies how patent rights and price regulation affect how fast new drugs are launched in different countries, using newly constructed data on launches of 642 new drugs in 76 countries for the period 1983-2002, and information on the duration and content of patent and price control...
Persistent link: https://www.econbiz.de/10011126137
Given the opportunity to buy IPO shares of uncertain value at a fixed price, potentially informed investors have an incentive to refuse to participate in offerings the underwriter happens to overprice. We show that an underwriter can efficiently resolve this problem by entering into a repeat...
Persistent link: https://www.econbiz.de/10010745055
A bank can efficiently underwrite individually difficult to value IPOs by offering them as a package deal to a stable coalition of investors (block-booking). Block-booking banks set offer prices to equalize downside risk across their offerings, not expected returns. Examining US IPOs over the...
Persistent link: https://www.econbiz.de/10010745328
In this paper we provide a characterization of the welfare properties of rational expectations equilibria of economies in which, prior to trading, agents have some information over the realization of uncertainity. We study a model with asymmetrically informed agents, treating symmetric...
Persistent link: https://www.econbiz.de/10010745753
We endogenize separation in a search model of the labor market and allow for bargaining over the continuation of employment relationships following productivity shocks to take place under asymmetric information. In such a setting separation may occur even if continuation of the employment...
Persistent link: https://www.econbiz.de/10010746228
We consider a noisy rational expectations equilibrium in a multi-asset economy populated by informed and uninformed investors, and noise traders. Informed investors privately observe an aggregate risk factor affecting the probabilities of different states of the economy. Uninformed investors...
Persistent link: https://www.econbiz.de/10011126052