We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A …

framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to … regularities regarding innovation and growth differences across the firm size distribution. We also incorporate patent citations …

How do political connections affect firm dynamics, innovation, and creative destruction? To answer this question, we … build a firm dynamics model, where we allow firms to invest in innovation and/or political connection to advance their …

This paper studies the effect of corporate and personal taxes on innovation in the United States over the twentieth … innovation: higher personal and corporate income taxes negatively affect the quantity and quality of inventive activity and shift … to another are important, but do not account for all of the effect. Agglomeration effects from local innovation clusters …

How do non-practicing entities ("Patent Trolls") impact innovation and technological progress? Although this question …", who exploit the patent system to extract rents and thereby hurt innovation. We employ unprecedented access to NPE … also find that downstream innovation drops in fields where patents have been acquired by NPEs. Finally, our numerical …

misallocation of talents to innovation …