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Buy, Keep or Sell : Economic Growth and the Market for Ideas
Akcigit, Ufuk - 2015
An endogenous growth model is developed where each period firms invest in researching and developing new ideas. An idea increases a firm's productivity. By how much depends on how central the idea is to a firm's activity. Ideas can be bought and sold on a market for patents. A firm can sell an...
Persistent link: https://www.econbiz.de/10013034553
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Optimal Capital Versus Labor Taxation with Innovation-Led Growth
Aghion, Philippe - 2014
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 …
Persistent link: https://www.econbiz.de/10013063825
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The Role of Information in Innovation and Competition
Akcigit, Ufuk; Liu, Qingmin - 2014
Innovation is typically a trial-and-error process. While some research paths lead to the innovation sought, others … that leads to an early abandonment of the risky project. We show that different types of firms follow different innovation …
Persistent link: https://www.econbiz.de/10014175615
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Young, Restless and Creative : Openness to Disruption and Creative Innovations
Acemoglu, Daron; Akcigit, Ufuk; Çelik, Murat Alp - 2014
the choice between incremental and radical innovation, and on how managers of different ages and human capital are sorted …. Our measures of creative innovations proxy for innovation quality (average number of citations per patent) and creativity …
Persistent link: https://www.econbiz.de/10014037664