. These findings suggests a two-pronged approach to the design of industrial policy, integrating firm-level subsidies with … knowledge diffusion measures and therefore ensuring that innovation and competition policies advance together. …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are … are shown to be solved by verification through entry for sale. -- acquisitions ; entrepreneurship ; innovation ; start …

This paper analyzes patent pools and their effects on innovation incentives. It is shown that the pro …-competitive effects of patent pools for complementary patents naturally extend for dynamic innovation incentives. However, this simple … patents reduce social welfare as they charge higher licensing fees and chill subsequent innovation incentives. …

processes? The present paper addresses this question in a new macroeconomic model of automation where competitive firms perform … and substitute for labor in the performance of tasks. Automation is labor-augmenting in the reduced-form aggregate … though the aggregate production function is Cobb-Douglas. Population aging due to a higher longevity reduces automation in …

a sample of advanced economies. Institutions explain a substantial proportion of cross-country variation in automation … vulnerable to holdup. This suggests that automation is used by producers as a tool to thwart rent appropriation by labor. …

more recently, globalization has stalled. This paper shows that higher uncertainty, in combination with better automation …