Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable ….4% lower due to the regulation, a 2.2% consumption equivalent welfare loss. Four-fifths of this loss is due to lower innovation … changes in the direction of R&D, and find that regulation’s negative effects only matter for incremental innovation (as …

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 …

paper, we address this question by investigating how innovation responses to a substantial policy initiative increasing … product market competition interact with the strength of patent rights. We provide empirical evidence of innovation responding … with step-by-step innovation models predicting that product market competition enhances innovation and, more importantly …

We show how size-contingent laws can be used to identify the equilibrium and welfare effects of labor regulation. Our … framework incorporates such regulations into the Lucas (1978) model and applies this to France where many labor laws start to …. With flexible wages, the deadweight loss of the regulation is below 1% of GDP, but when wages are downwardly rigid welfare …

We investigate the regulation of labor markets through employment laws, collective bargaining laws, and social security … generous social security systems. Socialist and French legal origin countries have sharply higher levels of labor regulation …. Heavier regulation of labor is associated with a larger unofficial economy, lower labor force participation, and higher …

somehow help solve the public goods problem inherent in workplace regulation. Second, the agent must be able to reduce the …

research by comparing patents that mention these research inputs early against the value of other patents. For this comparison …Intelligently allocating research effort and funds requires deciding whether to build on recent advances or on more … established knowledge. When recent advances create superior opportunities for invention, their adoption as research inputs in the …

Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research … to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations … innovation. Large firms appear to value the golden eggs of science (as reflected in patents) but not the golden goose itself (the …

relating to patenting, robust conclusions regarding the empirical consequences for technological innovation of changes in … patent policy are few. Possible reasons for these limited results are discussed, and possible avenues for future research are …