Can directed technical change be used to combat climate change? We construct new firm-level panel data on auto industry innovation distinguishing between �dirty� (internal combustion engine) and �clean� (e.g. electric and hybrid) patents across 80 countries over several...

This paper develops a simple model, which shows how economic fluctuations can stimulate growth. It is shown that firms tend to invest more in productivity growth during recessions, since the opportunity cost (in terms of forgone profits) of investing capital or labour resources in technological...

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...

[ger] Diese Studie knüpft an die jüngste Fachliteratur über die Wachstumsdeterminanten entsprechend dem technologischen Stand der Länder an. Neben den Auswirkungen der Bildung und der Regulierung der Güter-und Arbeitsmärkte untersucht sie auch eine mögliche Wechselwirkung zwischen diesen...