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The Environment and Directed Technical Change
Acemoglu, Daron; Aghion, Philippe; Bursztyn, Leonardo; … - C.E.P.R. Discussion Papers - 2011
dirty innovation and production; (ii) optimal policy involves both .carbon taxes. and research subsidies, so that excessive … the switch to clean innovation under laissez-faire when the two inputs are substitutes. Under reasonable parameter values …
Persistent link: https://www.econbiz.de/10009365645
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In brief: Two cheers for Anglo-Saxon financial markets?
Aghion, Philippe; Reenen, John Van; Zingales, Luigi - Centre for Economic Performance, LSE - 2012
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/10010549053
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Science, Technology and Innovation for Economic Growth: Towards Linking Policy Research and Practice in 'STIG Systems'
Aghion, Philippe; David, Paul A.; Foray, Dominique - Stanford Institute for Economic Policy Research … - 2007
the dynamics of science, technology and innovation and their relationship to economic growth. Considering the approach …
Persistent link: https://www.econbiz.de/10010616116
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The Effects of Entry on Incumbent Innovation and Productivity
Aghion, Philippe; Blundell, Richard William; Griffith, … - C.E.P.R. Discussion Papers - 2005
How does firm entry affect innovation incentives and productivity growth in incumbent firms? Micro-data suggests that … sectors which differ by their distance to the technological frontier. We show that entry threat spurs innovation incentives in … technologically advanced sectors - successful innovation allows incumbents to prevent entry. In laggard sectors it discourages …
Persistent link: https://www.econbiz.de/10005114280
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Distance to Frontier, Selection, and Economic Growth
Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2002
innovation activities. The selection of high-skill managers is more important for innovation activities. As the economy … investments, but little selection. Closer to the world technology frontier, there is a switch to an innovation-based strategy with …
Persistent link: https://www.econbiz.de/10005789082
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Innovation and Institutional Ownership
Aghion, Philippe; Van Reenen, John; Zingales, Luigi - C.E.P.R. Discussion Papers - 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/10005661518
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Optimal Design of Bank Bailouts: The Case of Transition Economies
Aghion, Philippe; Bolton, Patrick; Fries, Steven - In: Journal of Institutional and Theoretical Economics (JITE) 155 (1999) 1, pp. 51-51
The paper proposes a framework to analyze the effects of various bank bailout policies on bank managers' incentives first to lend prudently and second to disclose truthfully their non-performing loans. It is shown that tough bank closure rules have counterproductive effects on bank managers'...
Persistent link: https://www.econbiz.de/10005241775
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Innovation and Institutional Ownership
Aghion, Philippe - 2014
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/10012750962
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Rationalizing Scherer’s prophecy of an inverted-U relationship between competition and innovation
Aghion, Philippe - In: ECONOMIA E POLITICA INDUSTRIALE 2014/1 (2014) 1, pp. 13-23
competition and innovation uncovered by Scherer (1967). This model in turn delivers a number of testable prediction. A first … testable prediction is that the relationship between competition and innovation follows an inverted- U pattern and the average … innovation in "frontier" firms but may discourage it in "non-frontier" firms. A third prediction is that there is complementarity …
Persistent link: https://www.econbiz.de/10010876461
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Technology, information and the decentralization of the firm
Acemoglu, Daron; Aghion, Philippe; Lelarge, Claire; Van … - London School of Economics (LSE) - 2006
This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. Decentralized control, on the...
Persistent link: https://www.econbiz.de/10010884642