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 …

How do non-practicing entities ("Patent Trolls") impact innovation and technological progress? Although this question …", who exploit the patent system to extract rents and thereby hurt innovation. We employ unprecedented access to NPE … also find that downstream innovation drops in fields where patents have been acquired by NPEs. Finally, our numerical …

misallocation of talents to innovation …

choice between incremental and radical innovation, and on how managers of different ages and human capital are sorted across … consistent with this pattern. Our measures of creative innovations proxy for innovation quality (average number of citations per …

findings in part explain why innovation prizes lost favour as a technology policy instrument in both the United States and …