Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and … labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition …, greater competition produces large effects on macroeconomic performance, as measured by standard indicators. In particular, we …

competition affect the incentives given to scientists, and these effects interact. First, high knowledge spillovers lead firms to … soften incentives when product market competition is high, and to strengthen incentives when competition is low. Second, the … relationship between the intensity of competition and the power of incentives is U-shaped, with the exact shape depending on the …

We consider how past, current, and future competition within an elimination tournament affect the probability that the … effort spillover effect--previous effort reduces the probability that the stronger player wins in the current stage. We test … our theory predictions using data from high-stakes tournaments. Empirical results suggest that shadow and spillover …