&D investment over total investment is countercyclical without credit constraints, but it becomes more procyclical as firms face …; (iii) in more credit constrained firms, R&D investment share plummets during recessions but does not increase … proportionally during upturns; (iv) average R&D investment and productivity growth are more negatively correlated with sales …

negatively affect innovation in low productivity firms. We test this prediction with patent, customs and production data covering …This paper investigates the effect of export shocks on innovation. On the one hand a positive shock increases market … size and therefore innovation incentives for all firms. On the other hand it increases competition as more firms enter the …

income is down, mostly due to the rising market share of low labor share firms. We propose a theory for these trends in which …

innovation. We first establish a positive and significant correlation between various measures of innovativeness and top income … the number of patent per capita, innovativeness accounts on average across US states for around 17% of the total increase … in the top 1% income share between 1975 and 2010. Finally, we show that innovation does not increase broader measures of …

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 …

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