We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A … incumbents reduces growth and welfare. For example, a subsidy to incumbent R&D equivalent to 5% of GDP reduces welfare by about 1 …

We present a discrete-time version of an otherwise standard Schumpeterian growth model. Discrete time exhibits two … level, but there is faster growth. Numerical simulations suggest that this also leads to higher welfare. …

We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A … reduces growth and welfare. For example, a subsidy to incumbent R&D equivalent to 5% of GDP reduces welfare by about 1 …

The slower productivity growth in Canada relative to that experienced in the United States in the second half of the … development. A key issue is whether this slower productivity growth is broadly-based, which would imply a societal … productivity growth in Canada and the United States in the 1990s. They find that the productivity growth gap in the 1990s at both …

-sector Cournot oligopoly. The explicit consideration of strategic interactions in a model of endogenous growth produces interesting … results. Considering the sectorial market share as the indicator of patent system enforcement, the authors find that growth … patent system translates into a low degree of competition among firms. Its influence on the growth rate goes in a single …