effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and …: while most innovating firms in the US are publicly traded conglomerates, a substantial fraction of innovation is … countries, where business groups tend to be concentrated in industries with a slower and more fundamental innovation cycle and …

rates has been widespread in the analyses by economic policymakers both in Europe and in the United States. In this paper we … been raised by the recent policy debates in Europe and the United States: Have ex ante real rates in the United States and … Europe been high during recent years? Has there been a link between U.S. real rates and those in other countries? Can this …

innovation process, the model allows agents to be uncertain about the sequence of returns that will be earned if the patent is …

partial equilibrium estimates suggest that without a rise in zombie credit post 2012, annual inflation in Europe during 2012 …

persistent, unidirectional transfers between countries, an issue that largely reflects a Northern vs. Southern Europe divide …