-industry innovation enhances domestic productivity, and domestic between industry innovations are productivity enhancing. However, foreign …-sourced between-industry innovation has a negative effect on domestic productivity. This highlights the dual aspect of patents as a …This paper examines Total Factor Productivity (TFP) and knowledge flows, using international patent data. The result is …

pricing, and an endogenous distribution of markups.Trade induces only firms with high-quality products to export, whereas …

to quantify the extent to which factor accumulation induces structural change and productivity growth in industrializing … many countries. We conclude that the productivity gains through labour re-allocation are potentially a significant …

productivity growth in semi-industrialized economies. These effects are hypothesized to operate through the negative impact of firm … raise productivity in defense of profits, contributing to a low wage-low productivity trap. This paper presents empirical … link between increased firm mobility and lower wages, as well as slower productivity growth over the period 1970-2000. …

We study the relationship between patents and actual product innovation in the market, and how this relationship varies … consumer goods sector. We find that patent filings are positively associated with subsequent product innovation by firms, but … at least half of product innovation and growth comes from firms that never patent. We also find that market leaders use …

five European countries (Germany, Spain, France, Italy, the United Kingdom). Data are obtained from the Sectoral Innovation …

percent for total factor productivity. Overall, the distortions explain about 67 percent of the variation in income per worker …

broad definition-to include technological advances, rising labor productivity, public and private infrastructure … greatest explosion of financial innovation the world had ever seen. Financial fragility grew until the economy collapsed into … the global financial crisis. At the same time, we saw that much (or even most) of the financial innovation was directed …

government provide incentives for innovation in a fiscally sustainable way? We address this question by examining the Ramsey … problem of finding optimal tax and subsidy schemes in a model in which growth is endogenously sustained by risky innovation …. We characterize the shadow value of growth and entry in the innovation sector. We find that a profit tax is required to …

California law that make non-compete agreements unenforceable. Consistent with our model of innovation, mobility rates outside of …