reduces carbon emissions by inducing substitution away from coal. Yet, the natural gas boom discourages innovation directed at …

for around 17% of the total increase in the top 1% income share between 1975 and 2010. Yet, innovation does not appear to … increase other measures of inequality which do not focus on top incomes. Next, we show that the positive effects of innovation … vindicate the Schumpeterian view whereby the rise in top income shares is partly related to innovation-led growth, where …

innovation-led growth into the Chamley-Judd framework, using a Schumpeterian growth model where productivity … on the market size for innovation. At the same time, for a given labor supply, taxing capital also reduces innovation …

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 find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite …, policy changes and disaggregating by type of owner we find that the effect of institutions on innovation does not appear to …

How does firm entry affect innovation incentives and productivity growth in incumbent firms? Micro-data suggests that … threat spurs innovation incentives in sectors close to the technological frontier--successful innovation allows incumbents to … prevent entry. In laggard sectors it discourages innovation--increased entry threat reduces incumbents' expected rents from …

This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is … reduce innovation incentives for laggards. There are four key predictions. First, the relationship between product market … competition (PMC) and innovation is an inverted U-shape. Second, the equilibrium degree of technological neck-and-neckness' among …