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Aghion, Philippe - 2012

In this paper, we use cross-industry, cross-country panel data to test whether industry growth is positively affected by the interaction between the reactivity of real short term interest rates to the business cycle and industry-level measures of financial constraints. Financial constraints are...

Persistent link: https://www.econbiz.de/10012460587

Competition and Innovation : An Inverted U Relationship

Aghion, Philippe - 2002

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 …

Persistent link: https://www.econbiz.de/10012469440

A Model of Growth Through Creative Destruction

Aghion, Philippe - 1990

This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogenous growth in emphasizing obsolescence of old technologies induced by the accumulation of knowledge and the resulting process or industrial innovations. This has both...

Persistent link: https://www.econbiz.de/10012475814

Environmental Preferences and Technological Choices : Is Market Competition Clean or Dirty?

Aghion, Philippe - 2020

' decisions whether to innovate "clean" or "dirty". We first develop a step-by-step innovation model to capture the basic … green innovation as major increase in fuel prices …

Persistent link: https://www.econbiz.de/10012481879

The Impact of Exports on Innovation : Theory and Evidence

Aghion, Philippe - 2018

This paper investigates the effect of export shocks on innovation. On the one hand a positive shock increases market … size and therefore innovation incentives for all firms. On the other hand it increases competition as more firms enter the … export market. This in turn reduces profits and therefore innovation incentives particularly for firms with low productivity …

Persistent link: https://www.econbiz.de/10012453117

The Social Origins of Inventors

Aghion, Philippe - 2017

misallocation of talents to innovation …

Persistent link: https://www.econbiz.de/10012453603

Missing Growth from Creative Destruction

Aghion, Philippe - 2017

Statistical agencies typically impute inflation for disappearing products based on surviving products, which may result in overstated inflation and understated growth. Using U.S. Census data, we apply two ways of assessing the magnitude of "missing growth" for private nonfarm businesses from...

Persistent link: https://www.econbiz.de/10012453690

Of Mice and Academics : Examining the Effect of Openness on Innovation

Murray, Fiona - 2009

Scientific freedom and openness are hallmarks of academia: relative to their counterparts in industry, academics maintain discretion over their research agenda and allow others to build on their discoveries. This paper examines the relationship between openness and freedom, building on recent...

Persistent link: https://www.econbiz.de/10012463828

Innovation and Institutional Ownership

Aghion, Philippe - 2009

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 …

Persistent link: https://www.econbiz.de/10012463878

The Effects of Entry on Incumbent Innovation and Productivity

Aghion, Philippe - 2006

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 …

Persistent link: https://www.econbiz.de/10012466642