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We explore how financial constraints distort the entry decisions among otherwise productive entrepreneurs and limit growth of promising young firms. A model of liquidity-constrained entrepreneurs suggests that the easing of credit constraints can induce more entry of firms with greater long-run...
Persistent link: https://www.econbiz.de/10014372477
innovation. After identifying pervasive market failures in innovation, it explains why those associated with the Nordic model may … be particularly conducive to innovation, and demonstrates that, in general, the optimal policies of the leader should … industrial policies, public investments, and systems of social protection), not only leading to more innovation, but ensuring …
Persistent link: https://www.econbiz.de/10012458174
We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A …
Persistent link: https://www.econbiz.de/10012459669
What is the role of startups within the innovation ecosystem? Since 2000, startups have grown in their share of … ventures in the innovation process relative to more traditional alternatives such as academia and established private … generate predictions related to the value and impact of startup innovation. We then explore these predictions using patents …
Persistent link: https://www.econbiz.de/10013362016
Interest in the role of entrepreneurial entry in innovation raises the question of the extent to which tax policy … innovative entrepreneurs confounds interpreting this specification. Using education as a measure of potential for innovation, we …
Persistent link: https://www.econbiz.de/10012468142
the many margins through which tax policies can affect innovation, the main driver of economic growth in the long …-run. These margins include the impact of tax policy on i) the quantity and quality of innovation; ii) the geographic mobility of … innovation and inventors across U.S. states and countries; iii) the declining business dynamism in the U.S., firm entry, and …
Persistent link: https://www.econbiz.de/10012481692
Investments in the US Science, Technology, Engineering, Medicine and Innovation (STEMI) enterprise come from many … innovative than government or business funding alone would yield. It also enables significant innovation in the development of …
Persistent link: https://www.econbiz.de/10014372474
segmentation) shaped the underlying incen- tives for innovation in the PC industry during the mid to late 1980s …
Persistent link: https://www.econbiz.de/10012473112
Recent work highlights a falling entry rate of new firms and a rising market share of large firms in the United States. To understand how these changing firm demographics have affected growth, we decompose productivity growth into the firms doing the innovating. We trace how much each firm...
Persistent link: https://www.econbiz.de/10012481972
Most analyses of the macroeconomic adjustment required to correct global imbalances ignore net exports of new varieties of goods and services and do not account for firms' entry in the product market. In this paper we revisit the macroeconomics of trade adjustment in the context of the classic...
Persistent link: https://www.econbiz.de/10012464851