Showing 1 - 10 of 20
Productivity growth in the United States was considerably faster during 2000-03 than in the boom years of 1995-2000. This ebullient productivity performance raises numerous questions about its interpretation and its implications for the future, and these are stated here in the form of five...
Persistent link: https://www.econbiz.de/10005123790
We show that when the researcher’s (observable but not contractible) contribution to innovation is crucial, a covenant not to compete (CNC) reduces effort and profits under both spot and relational contracts. Having no CNC allows the researcher to leave for a rival. This alleviates a...
Persistent link: https://www.econbiz.de/10005504700
We review the role of R&D in endogenous growth theory, and describe extant empirical research – macro and micro … that property rights matter, but in subtle counterintuitive ways, not yet fully investigated in research on endogenous …
Persistent link: https://www.econbiz.de/10005497933
Patent holders may choose to protect innovations with single patents or to develop portfolios of multiple, related inventions. We propose a simple decision-making model in which patent-holders may allocate resources to either expanding the number of related patents or investing in higher value...
Persistent link: https://www.econbiz.de/10011083853
We study a North-South trade situation in which prices are perfectly flexible and knowledge spills over from Northern to Southern firms. In a partial equilibrium setup we analyse the role of tariffs in preventing technological leakages and their impact on domestic (Northern) consumers and...
Persistent link: https://www.econbiz.de/10005067368
This Paper develops a dynamic general equilibrium model of North-South trade with scale-invariant growth. Northern firms devote resources to innovative R&D to discover higher quality products and Southern firms devote resources to imitative R&D to copy state-of-the-art quality Northern products....
Persistent link: https://www.econbiz.de/10005656156
case on public versus private research, the Paper shows that in some fundamental research areas, where knowledge … some features of an optimal research policy. …
Persistent link: https://www.econbiz.de/10005662042
This paper investigates how patent applications and grants held by new ventures improve their ability to attract venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents as signals when trying to assess the prospects of...
Persistent link: https://www.econbiz.de/10005662179
We analyse firms’ incentives to cluster in an industrial district to benefit from reciprocal technology spillovers. A simple model of cumulative innovation is presented where technology spillovers arise endogenously through labour mobility. It is shown that firms’ incentives to cluster are...
Persistent link: https://www.econbiz.de/10005666513
Why do some start-up firms raise funds from banks and others from venture capitalists? To answer this question, I study a model in which the venture capitalist can evaluate the entrepreneur’s project more accurately than the bank but can also threaten to steal it from the entrepreneur. The...
Persistent link: https://www.econbiz.de/10005666946