adopting costly reforms with future benefits and reconciles it with the evidence that reformist governments are not punished by … voters. To do so, it proposes a model of elections where political ability is ex-ante unknown and investment in reforms is …, politicians make too little reforms in an attempt to signal high ability and increase their reappointment probability. Although in …

structural reforms of the Welfare State and the slowness of concrete steps in the overall administrative reform and in the …

implemented a comprehensive set of institutional reforms. In this Paper we present a theoretical and empirical framework to …

This Paper presents a model of innovations and economic growth, in which patent rates emerge endogenously, as a result …-inefficient, as too many researchers look for the easy innovations, while too few search for the difficult ones. The third result is …

, incumbents' valuations of innovations are less negatively affected by increased competition than entrants' profits. This, in turn …, but not too strict, merger policy tends to increase the incentive for innovations for sale by ensuring the bidding … competition for the innovation, without reducing the total rents for innovations too much. …

an increase in either the size or the frequency of innovations, from human capital accumulation through learning … of innovations or through introducing learning by doing with positive external effects across sectors) introduces new …