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Identifying Technology Spillovers and Product Market Rivalry

Bloom, Nicholas; Schankerman, Mark; Van Reenen, John - C.E.P.R. Discussion Papers - 2005

Support for many R&D and technology policies relies on empirical evidence that R&D ‘spills over’ between firms. But there are two countervailing R&D spillovers: positive effects from technology spillovers and negative effects from business stealing by product market rivals. We develop a...

Persistent link: https://www.econbiz.de/10005662082

Research Productivity and Patent Quality: Measurement with Multiple Indicators

Lanjouw, Jean O; Schankerman, Mark - C.E.P.R. Discussion Papers - 2002

We analyse the determinants of the decline in measured research productivity (the patent/R&D ratio) using panel data on manufacturing firms in the US for the period 1980-93. We focus on three factors: the level of demand, the quality of patents, and technological exhaustion. We first develop an...

Persistent link: https://www.econbiz.de/10005791451

Strategic Patenting and Software Innovation

Noel, Michael D.; Schankerman, Mark - C.E.P.R. Discussion Papers - 2006

Strategic patenting is widely believed to raise the costs of innovating, especially in industries characterised by cumulative innovation. This paper studies the effects of strategic patenting on R&D, patenting and market value in the computer software industry. We focus on two key aspects:...

Persistent link: https://www.econbiz.de/10005792508

Securitization, Transparency and Liquidity

Pagano, Marco; Volpin, Paolo - C.E.P.R. Discussion Papers - 2008

of transparency is inefficiently low if the social value of secondary market liquidity exceeds its private value. We … analyze various types of public intervention — mandatory transparency standards, provision of liquidity to distressed banks or … secondary market price support — and find that they have quite different welfare implications. Finally, transparency is greater …

Persistent link: https://www.econbiz.de/10005504512

Transparency Gloves for Grabbing Hands? Politics and (Mis)Governance

Blumkin, Tomer; Gradstein, Mark - C.E.P.R. Discussion Papers - 2002

transparency, of the media, and of political contestability for taming corruption. The existing empirical evidence is shown to …

Persistent link: https://www.econbiz.de/10005504531

Independence before Conservatism: Transparency, Politics and Central Bank Design

Hughes Hallett, Andrew; Weymark, Diana - C.E.P.R. Discussion Papers - 2002

transparency and political coherence. …

Persistent link: https://www.econbiz.de/10005498019

Never Say Never: Commentary on a Policymaker’s Reflections

Obstfeld, Maurice - C.E.P.R. Discussion Papers - 2014

Stanley Fischer is a rarity among economic policymakers. He came to the policy world as an internationally recognized intellectual leader on macroeconomic theory and policy. He confronted numerous emerging market crises, including the globally systemic Asian crisis, as the IMF’s First Deputy...

Persistent link: https://www.econbiz.de/10011083383

Geography, Transparency and Institutions

Mayshar, Joram; Moav, Omer; Neeman, Zvika - C.E.P.R. Discussion Papers - 2013

We propose a theory by which geographic variations in the transparency of the production process explain cross … geography and these institutions, we posit, is via the effect of transparency on the state's extractive capacity. We apply our …

Persistent link: https://www.econbiz.de/10011083761

Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels

Tong, Hui; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2012

How does increasing globalization affect corporate transparency? Freer trade represents two facets and in theory has … ambiguous effects on corporate transparency. On the one hand, by exposing firms to more product market competition, it could …, it may promote more transparency. Rather than simply estimating a net effect, this paper pursues an approach that allows …

Persistent link: https://www.econbiz.de/10011083813

Dealer Networks

Li, Dan; Schürhoff, Norman - C.E.P.R. Discussion Papers - 2014

Dealers in over-the-counter securities form networks to mitigate search frictions. The audit trail for municipal bonds shows the dealer network has a core-periphery structure. Central dealers are more efficient at matching buyers and sellers than peripheral dealers, which shortens intermediation...

Persistent link: https://www.econbiz.de/10011084269