vulnerability, drawing lessons from a detailed comparison of the response of Chile and Australia to recent external shocks and from … Australia's historical experience. We argue that in order to understand sudden stops and the mechanisms to smooth them, it is …

process innovation. There are strong reasons why an efficient economy ought to concentrate both job creation and destruction …

How do political connections affect firm dynamics, innovation, and creative destruction? To answer this question, we … build a firm dynamics model, where we allow firms to invest in innovation and/or political connection to advance their …

This paper studies the effect of corporate and personal taxes on innovation in the United States over the twentieth … innovation: higher personal and corporate income taxes negatively affect the quantity and quality of inventive activity and shift … to another are important, but do not account for all of the effect. Agglomeration effects from local innovation clusters …