We employ the total factor productivity (TFP) index in growth accounting as a proxy for productivity growth to compare patterns and sources of output growth for a group of proximate countries in Asia-Pacific Economic Cooperation region.

This report presents an overview of possible definig, driving factors behind the so-caleld 'new economy'. The humble goal of this study is to provide a framework for policy makers, policy advisors and perhaps also to entrepreneurs, which places theory and implications of 'the new economy' into a...

We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth. The model for firm growth is a partial equilibrium model drawing on the quality ladder models in the macro growth literature, but also on the literature on patent races and the...

We consider environments in which agents other than innovator receive the signals about the quality of innovation. We study whether mechanisms can be found which exploit market information to provide appropriate incentives for innovation. If such mechanisms are used, the innovator has incentives...