Knowledge spillover occurs when recipient firms combine the knowledge of an originating firm with other knowledge. When recipient firms combine the originating firm's knowledge with knowledge that is unfamiliar to the originating firm, the recipient firms potentially provide insight to the...

This paper derives optimal labor taxation to finance student transfer if educational investments are subject to credit constraints. Credit constraints are endogenously determined under the incentive constraint that individuals cannot be better-off by defaulting. Student transfer alleviates...

Two results follow from the standard workhorse model of tax competition. One is that tax competition between countries leads to underprovision of public consumption goods (see Zodrow and Mieszkowski 1986). The other that tax competition lowers capital taxes and may lead to less redistribution...

Although research suggests knowledge spillovers benefit imitators often at the expense of originators, we investigate how originating firms may also benefit from their own spillovers. When an originating firm’s spillovers are recombined with complementary knowledge by recipient firms, a pool...