The main objective of this paper is to analyze the links between product market competition, innovation and growth. In … a step-by step innovation model we explicitly introduce the distinction between knowledge and technology information … flow increases the positive effect of competition on innovation and growth while the technology information flow has a …

This paper studies the effect of competition on firm innovation by developing a discrete-time endogenous growth model … where multi-product firms do two types of innovation subject to friction in technology spillovers. Firms improve their … existing products through internal innovation while entering others' product markets through external innovation. We introduce …

The paper compares the way economies with exogenous and endogenous innovation respond to capital income taxes. If … innovation is exogenous, tax cuts increase saving. If innovation is endogenous, tax cuts increase innovation as well. Faster … innovation raises capital productivity and calls forth still more saving. A larger capital stock lowers the discount rate …