Hierarchies allow individuals to leverage their knowledge through others' time. This mechanism increases productivity … and organization of U.S. lawyers and use the equilibrium model of knowledge hierarchies in Garicano and Rossi …

as sources of relative innovation underperformance in Europe vis-à-vis the United States. In this paper we investigate R …) that has been modified to include ICT investment and R&D as the two main inputs into innovation and productivity. We find … that R&D and ICT are both strongly associated with innovation and productivity, with R&D being more important for …

that pools encourage innovation in pool technologies, albeit at the cost of innovation in substitutes. Empirical evidence … innovations by new firms for a historical pool in the sewing machine industry (1856-1877) to examine effects on innovation …. Contrary to theoretical predictions, this analysis suggests that pools may discourage innovation in pool technologies and shift …

employees to pursue value-enhancing innovative activities. Using patents and citations as proxies for innovation, we identify … that within a country, innovation and economic growth are fostered by stringent laws governing dismissal of employees …, especially in the more innovation-intensive sectors. Firm-level tests within the United States that exploit a discontinuity …

technologies which reduce the cost of pollution abatement. The innovating firm can patent this innovation and use a licensing fee … to generate revenue. In a world of certainty, the first best level of innovation and abatement can be supported by either … a pollution tax or a marketable permit. However, the returns to the innovator from innovation are not the same under the …

" about future performance and standard measures of corporate innovation. We begin by developing a career concern model where … probability of failure, are more likely to pursue innovation, and that this effect is larger in more competitive industries. We …

This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and …: while most innovating firms in the US are publicly traded conglomerates, a substantial fraction of innovation is … countries, where business groups tend to be concentrated in industries with a slower and more fundamental innovation cycle and …