This paper provides some first empirical evidence on the relationship between R&D spillovers and R&D cooperation. The results suggest disentangling different aspects of know-how flows. Firms which rate incoming spillovers more importantly and who can limit outgoing spillovers by a more effective...

While innovation is argued to create value, private incentives of fi rms to innovate are driven by what part of the value created rms can appropriate. In this paper we explore the relation between innovation and the markups a fi rm is able to extract after innovating. We estimate fi rm-speci c...