We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are …

Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that … when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics …

harmful for innovation and if so, whether compulsory licensing can provide an effective remedy. The consent decree settled an … to license all its existing patents royalty-free. The compulsory licensing increased follow-on innovation building on … Bell patents by 17%. This effect is driven mainly by young and small companies. Yet, innovation increased only outside the …

Why is modern society capable of cumulative innovation? In A Culture of Growth: The Origins of the Modern Economy, Joel …

structure of endogenous growth models with horizontal as well as vertical innovation and emphasizing important implications for …

This paper estimates the effect of innovation on employment at the firm level. Our uniquely long innovation panel data … set of German manufacturing firms covers more than 20 years and allows us to use various innovation measures. We can … distinguish between product and process innovations as well as between innovation inputs and innovation outputs. Using dynamic …

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex … welfare, amount of innovation and output growth at intermediate stages of technological development - periods when legal …