We construct a model of innovation incorporating R&D externalities, R&D participation, financial market imperfections … analysis. The intensive, not the extensive R&D margin is important. Financial market imperfections are small. Tax credits and …

We construct a model of innovation incorporating R&D externalities, R&D participation, financial market imperfections … analysis. The intensive, not the extensive R&D margin is important. Financial market imperfections are small. Tax credits and …

. We show that, under credit market imperfections and depending on wealth distribution across households, a balanced budget …

CO2 to a storage site. We study different market structures, all suffering from market imperfections such as network … high to justify CCS investments, but the government does not use other instruments to correct for the other market … imperfections, CCS investments differ significantly between the alternative market structures. In particular, investment in …

. Herewith, we are able to demonstrate how market imperfections translate into a higher concentration of personal incomes … taxes and transfers, competition policy should correct for market imperfections and thereby reduce the inequality of …. Conclusions / findings: Our major finding is that only a rigorous competition policy is qualified to not only correct for market …