panel dataset of firms that are publicly traded in France, Germany, and Italy. Controlling for either permanent unobserved …&D in France and Germany is remarkably similar both to each other and to that in the US or the UK during the same period In …

between appropriability mechanisms, innovation and firm-level productivity. We enrich this model in several ways. First, we … consider different types of innovation spending and study the differences in estimates when innovation spending (rather than R …&D spending) is used to predict innovation in the CDM model. Second, we assume that a firm simultaneously innovates and chooses …

innovative performance measured as turnover due to innovation, but not between patenting and subsequent employment growth. The …