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This book offers a new explanation why venture capital in investments differ substantially between countries. Recent literature has attributed these differences to differences in the financial architecture and tax regulations. By contrast, this book shows by using simulations of a general...
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We document that monetary policy has a substantial impact on innovation activities. After a tightening shock of 100 …-based aggregate innovation index, declines by up to 9 percent in the following 2 to 4 years. Based on previous estimates of the … sensitivity of output to innovation activities, these magnitudes imply that output could be 1 percent lower after another 5 years …
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quality, follow-on innovation. Winning a first patent boosts a startup's subsequent growth and innovation by facilitating …
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quality, follow-on innovation. Winning a first patent boosts a startup's subsequent growth and innovation by facilitating …
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quality, follow-on innovation. Winning a first patent boosts a startup’s subsequent growth and innovation by facilitating …
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We investigate whether the decision to experiment with novel policies is influenced by electoral incentives. Our empirical setting is the U.S. welfare reform in 1996, which marked the most dramatic shift in social policy since the New Deal. We find that electoral incentives matter: governors...
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