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Carbon Taxes, Path Dependency and Directed Technical Change : Evidence from the Auto Industry

Aghion, Philippe - 2012

Can directed technical change be used to combat climate change? We construct new firm-level panel data on auto industry innovation distinguishing between "dirty" (internal combustion engine) and "clean" (e.g. electric and hybrid) patents across 80 countries over several decades. We show that...

Persistent link: https://www.econbiz.de/10012460065

Technology, Information and the Decentralization of the Firm

Acemoglu, Daron - 2006

decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly … available information. However, the manager can use her informational advantage to make choices that are not in the best … interest of the principal. As the available public information about the specific technology increases, the trade-off shifts in …

Persistent link: https://www.econbiz.de/10012466463

Exchange Rate Volatility and Productivity Growth : The Role of Financial Development

Aghion, Philippe - 2006

This paper offers empirical evidence that real exchange rate volatility can have a significant impact on long-term rate of productivity growth, but the effect depends critically on a country's level of financial development. For countries with relatively low levels of financial development,...

Persistent link: https://www.econbiz.de/10012466492

The Effects of Entry on Incumbent Innovation and Productivity

Aghion, Philippe - 2006

How does firm entry affect innovation incentives and productivity growth in incumbent firms? Micro-data suggests that there is heterogeneity across industries--incumbents in technologically advanced industries react positively to foreign firm entry, but not in laggard industries. To explain this...

Persistent link: https://www.econbiz.de/10012466642

Volatility and Growth : Credit Constraints and Productivity-Enhancing Investment

Aghion, Philippe - 2005

We examine how credit constraints affect the cyclical behavior of productivity-enhancing investment and thereby volatility and growth. We first develop a simple growth model where firms engage in two types of investment: a short-term one and a long-term productivity-enhancing one. Because it...

Persistent link: https://www.econbiz.de/10012467334

Competition and Innovation : An Inverted U Relationship

Aghion, Philippe - 2002

This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is developed in which competition may increase the incremental profit from innovating; on the other hand, competition may also reduce innovation incentives for laggards. There are...

Persistent link: https://www.econbiz.de/10012469440

Turbulence, Firm Decentralization and Growth in Bad Times

Aghion, Philippe - 2017

the value of local information increases (the "localist" view). On the other hand, the need to make tough decisions may …

Persistent link: https://www.econbiz.de/10012455327

Choosing Electoral Rules : Theory and Evidence from US Cities

Aghion, Philippe - 2005

This paper studies the choice of electoral rules, in particular, the question of minority representation. Majorities tend to disenfranchise minorities through strategic manipulation of electoral rules. With the aim of explaining changes in electoral rules adopted by US cities (particularly in...

Persistent link: https://www.econbiz.de/10012467449

Parental Education and Invention : The Finnish Enigma

Aghion, Philippe; Akcigit, Ufuk; Hyytinen, Ari; … - National Bureau of Economic Research - 2023

Why is invention strongly positively correlated with parental income not only in the US but also in Finland which displays low income inequality and high social mobility? Using data on 1.45M Finnish individuals and their parents, we find that: (i) the positive association between parental income...

Persistent link: https://www.econbiz.de/10014226161

Climate Change, Directed Innovation, and Energy Transition : The Long-run Consequences of the Shale Gas Revolution

Acemoglu, Daron; Aghion, Philippe; Barrage, Lint; … - National Bureau of Economic Research - 2023

We investigate the short- and long-term effects of a natural gas boom in an economy where energy can be produced with coal, natural gas, or clean sources and the direction of technology is endogenous. In the short run, a natural gas boom reduces carbon emissions by inducing substitution away...

Persistent link: https://www.econbiz.de/10014372414