questions. The economy consists of many industries and firms engaged in cumulative (step-by-step) innovation. IPR policy … same innovation(s) themselves or by making some pre-specified payments to the technological leaders. We prove the existence …

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 …

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A … provides a good fit to the dynamics of firm entry and exit, output and R&D, and its implied elasticities are in the ballpark of ….53 because it deters entry of new high-type firms. On the contrary, substantial improvements (of the order of 53 improvement in …

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A … provides a good fit to the dynamics of firm entry and exit, output and R&D, and its implied elasticities are in the ballpark of ….5% because it deters entry of new high-type firms. On the contrary, substantial improvements (of the order of 5% improvement in …

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A … provides a good fit to the dynamics of firm entry and exit, output and R&D, and its implied elasticities are in the ballpark of ….5% because it deters entry of new high-type firms. 0n the contrary, substantial improvements (of the order of 5% improvement in …

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A … provides a good fit to the dynamics of firm entry and exit, output and R&D, and its implied elasticities are in the ballpark of ….5% because it deters entry of new high-type firms. On the contrary, substantial improvements (of the order of 5% improvement in …

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A …. The model provides a good fit to the dynamics of firm entry and exit, output and R&D. Taxing the continued operation of …