countries. Will these developments improve economic performance in terms of creating jobs, fostering investment, and encouraging …

The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists … productive and active VC industry boosts innovation driven growth. …

government provide incentives for innovation in a fiscally sustainable way? We address this question by examining the Ramsey … problem of finding optimal tax and subsidy schemes in a model in which growth is endogenously sustained by risky innovation …. We characterize the shadow value of growth and entry in the innovation sector. We find that a profit tax is required to …

This paper studies the innovation dynamics of an oligopolistic industry. The firms compete not only in the output … incentives for innovation at subsequent dates. Over time the industry equilibrium approaches a steady state. The paper … characterizes the evolution of the industry's innovation behavior and its market structure on the adjustment path. …