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In this article, we review the literature focusing on the relationships between inequality and economic growth. We show that wealth inequality may be bad for growth, in particular when capital markets are imperfect and agents are heterogenous, or when some agents suffer from institutional...
Persistent link: https://www.econbiz.de/10005176525
Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable … sharp reduction in the firm's innovation response to exogenous demand shocks for firms just below the regulatory threshold …. We then quantitatively fit the parameters of the model to the data, finding that innovation at the macro level is about 5 …
Persistent link: https://www.econbiz.de/10012431121
In this chapter we argue that the endogenous growth model with quality-improving innovations provides a framework for analyzing the determinants of long-run growth and convergence that is versatile, simple and empirically useful. Versatile, as the same framework can be used to analyze how growth...
Persistent link: https://www.econbiz.de/10014023785
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/10010272399
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/10010272476
Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable … sharp reduction in the firm's innovation response to exogenous demand shocks for firms just below the regulatory threshold …. We then quantitatively fit the parameters of the model to the data, finding that innovation at the macro level is about 5 …
Persistent link: https://www.econbiz.de/10012497983
innovation. We first establish a positive and significant correlation between various measures of innovativeness and top income … in the top 1% income share between 1975 and 2010. Finally, we show that innovation does not increase broader measures of … inequality which do not focus on top incomes, and that innovation is positively correlated with social mobility, but less so in …
Persistent link: https://www.econbiz.de/10013021154
Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable … sharp reduction in the firm's innovation response to exogenous demand shocks for firms just below the regulatory threshold …. We then quantitatively fit the parameters of the model to the data, finding that innovation at the macro level is about 5 …
Persistent link: https://www.econbiz.de/10013248072
relationship between competition and innovation, Aghion, Dewatripont and Rey (1999) showed that this could be reversed if agency …
Persistent link: https://www.econbiz.de/10005207902
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