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The Theory of Assortative Matching Based on Costly Signals

Hoppe, Heidrun C.; Moldovanu, Benny; Sela, Aner - C.E.P.R. Discussion Papers - 2006

We study two-sided markets with a finite numbers of agents on each side, and with two-sided incomplete information. Agents are matched assortatively on the basis of costly signals. A main goal is to identify conditions under which the potential increase in expected output due to assortative...

Persistent link: https://www.econbiz.de/10005114323

Phases of Imitation and Innovation in a North-South Endogenous Growth Model

Chui, Michael; Currie, David; Levine, Paul L; Pearlman, … - C.E.P.R. Discussion Papers - 1996

: imitation of Northern products; imitation and innovation; and finally, innovation only. In particular, the model has the … that the possible equilibria depend on cross-country assimilation effects and the ease of imitation. We then apply the …

Persistent link: https://www.econbiz.de/10005124314

Productivity Spillovers Through Labor Mobility

Heggedal, Tom-Reiel; Moen, Espen R; Preugschat, Edgar - C.E.P.R. Discussion Papers - 2014

contracts, there is too little innovation and too much imitation in equilibrium. Our model is tractable and allows us to analyze … welfare effects of various policies in the limited commitment case. We find that subsidizing innovation and taxing imitation … improves welfare.Moreover, allowing innovation firms to charge quit fees or rent out workers to imitation firms also improves …

Persistent link: https://www.econbiz.de/10011171780

Innovation Beyond Patents: Technological Complexity as a Protection against Imitation

Henry, Emeric; Ruiz-Aliseda, Francisco - C.E.P.R. Discussion Papers - 2012

making their products technologically hard to reverse-engineer. We consider the dynamics of imitation and investment in such …

Persistent link: https://www.econbiz.de/10011084053

Does Microsoft Stifle Innovation? Dominant Firms, Imitation and R&D Incentives

Cabral, Luís M B; Polak, Ben - C.E.P.R. Discussion Papers - 2004

We provide a simple framework to analyse the effect of firm dominance on incentives for R&D. An increase in firm dominance, which we measure by a premium in consumer valuation, increases the dominant firm's incentives and decreases the rival firm's incentives for R&D. These changes influence the...

Persistent link: https://www.econbiz.de/10005789049

Distance to Frontier, Selection, and Economic Growth

Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2002

We analyse an economy where managers engage both in the adoption of technologies from the world frontier and in innovation activities. The selection of high-skill managers is more important for innovation activities. As the economy approaches the technology frontier, selection becomes more...

Persistent link: https://www.econbiz.de/10005789082

Growth, Distance to Frontier and Composition of Human Capital

Aghion, Philippe; Meghir, Costas; Vandenbussche, Jérôme - C.E.P.R. Discussion Papers - 2005

innovation and imitation. We develop a theoretical model showing that skilled labour has a higher growth-enhancing effect closer … activity than imitation. Also, we provide evidence in favour of this prediction using a panel dataset covering 19 OECD …

Persistent link: https://www.econbiz.de/10005792394

Trust in the Monetary Authority

Bursian, Dirk; Faia, Ester - C.E.P.R. Discussion Papers - 2015

Trust in policy makers fluctuates significantly over the cycle and affects the transmission mechanism. Despite this it is absent from the literature. We build a monetary model embedding trust cycles; the latter emerge as an equilibrium phenomenon of a game-theoretic interaction between atomistic...

Persistent link: https://www.econbiz.de/10011252623

Learning and Complementarities: Implications for Speculative Attacks

Goldstein, Itay; Ozdenoren, Emre; Yuan, Kathy - C.E.P.R. Discussion Papers - 2010

We study a model where the aggregate trading of currency speculators reveals new information to the central bank and affects its policy decision. We show that the learning process gives rise to coordination motives among speculators leading to large currency attacks and introducing...

Persistent link: https://www.econbiz.de/10008468601

The Price Impact of Institutional Herding

Dasgupta, Amil; Prat, Andrea; Verardo, Michela - C.E.P.R. Discussion Papers - 2010

In this paper we develop a simple theoretical model to analyze the impact of institutional herding on asset prices. A growing empirical literature has come to the intriguing conclusion that institutional herding positively predicts short-term returns but negatively predicts long-term returns. We...

Persistent link: https://www.econbiz.de/10008530349

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