Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable … sharp reduction in the firm's innovation response to exogenous demand shocks for firms just below the regulatory threshold …. We then quantitatively fit the parameters of the model to the data, finding that innovation at the macro level is about 5 …

service delivery and innovation in over 2,800 cities between 1875-1905. Exploiting the gradual expansion of a major civil … effective postal service contributed to innovation and growth during the Gilded Age …