effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

Aghion, Van Reenen and Zingales (2013) find that institutional ownership causes an increase in innovation as measured … by citation-weighted patent counts. To identify a causal effect, they use membership in the S&P 500 as an instrument for … ownership and innovation is robust in 22% of robustness checks. On average, 2nd stage z-scores were just 42.7% of the original …

effect on innovation. We develop a simple “trapped factor” model of innovation that is consistent with these empirical …

innovation distinguishing between dirty (internal combustion engine) and clean (e.g. electric and hybrid) patents across 80 … tax-inclusive fuel prices. Furthermore, there is path dependence in the type of innovation both from aggregate spillovers … and from the firm's own innovation history. Using our model we simulate the increases in carbon taxes needed to allow …