In this paper we study the influence of financial constraints on the investment behavior of French firms by estimating the Euler equation for investment on a large panel of firms over the period 1986-1994. In particular we emphasize the impact of the firm's level of collateral on its external...

This paper examines whether patenting increases the private incentives to innovate in manufacturing. In order to study this issue, we build a model in which the value of an innovation depends both on the type of innovation implemented (product, process) and on the existence or not of a patent...