In this paper we construct a model in which entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We show that as exacerbated development by better-informed venture-backed...

In this paper we construct a model in which entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We show that as exacerbated development by better-informed venture-backed...

This paper constructs a model where entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We first show that aggressive development of a basic innovation by better informed...

Our model reconciles seemingly contradictory empirical evidence on venture capital activity. Despite the venture capital-backed companies' superior long-run performance, stock markets react more negatively to their acquisitions than to other private acquisitions. Moreover, venture capital...

This paper was presented at the All China Economics (ACE) International Conference, Hong Kong, 2006, XXXIII Symposium of Economic Analysis, Spain, 2007, DEGIT XVI Dynamics, Economic Growth and International Trade, Los Angeles, USA, 2009.

We analyze the effects of capital income taxation on long-run growth in a stochastic, two-period overlapping generations economy. Endogenous growth is driven by a positive externality of physical capital in the production sector that makes firms exhibit an aggregate ρoKπ4echnology in...

This paper has been presented at the XIII Encuentros de Economía Aplicada, Sevilla, Spain, 2010.

The aim of this paper is to find an empirical connection between the impressive increase in the use of temporary contracts in Spain and the observed increase in age at marriage and maternity. Using a pool of the six available waves of individual information from the European Household Panel for...

The aim of this paper is to analyze how active R&D policies affect the growth rate of an economy with endogenous growth and non-renewable resources. We know from Scholz and Ziemens (1999) and Groth (2006) that in infinitely lived agents (ILA) economies, any active R&D policy increases the growth...

Published as an article in: Journal of Environmental Economics and Management, 2005, vol. 50, issue 2, pages 387-407.