This paper investigates the relationship between various market imperfections and the skill premium. The model in this paper assumes perfectly competitive labor markets but distorted product and financial markets. The model predicts that the skill premium is positively correlated with market...

How do financial markets respond to firms' efforts at innovation ? To answer this question, we mesure innovation by creating a synthetic indicator based on a firm's recent history of R&D expenditure and patent applications. We focus on four 2-digit "complex technology" manufacturing sectors that...

We study division of labour, innovation, and economic growth in a world with indivisibilities. In order to increase the division of labour, more specialized, labour saving capital varieties must be invented, which can be done only subject to a minimum size requirement. Thus, the division of...

Economists pay little attention to the services sector, defined as intangible activities incorporated in utilisation of the good. Italy has a share of services similar to that of its equally developed European partners (around 70% of GDP) but internet services are still not widespread,...

Extensive literature on the contribution of knowledge spillovers to growth and development at the regional level exists but these studies mainly features regions characterised by a high level of economic development. This paper assesses the importance of knowledge spillovers for firms located in...

The way a company creates and shares knowledge can come to form themselves into a sustainable competitive advantage with high gains in its industrial sector. This work is a case study of an invention, which later became a technological innovation, the project mipis - Micro Port Bait...