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 …

We investigate the impact of investment in automation-related goods on adopting and non-adopting firms in the Italian … of Italian importing firms and estimate the effects on adopters' outcomes within a difference-indifferences design … exploiting import lumpiness in product categories linked to automation and AI technologies. We find a positive average adoption …

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

We provide an argument for long-term automation and decline in the labor income share, driven by capital accumulation … rescaled in the same way. Then ongoing capital accumulation gives rise to progressive automation, and the share of labor income …