Does innovation boost or fall with more competition when innovation follows a memory process? This paper provides a theoretical model which analyzes the innovation and competition relationship assuming that innovation follows a short-memory process. I find innovation increases with more product...

Does innovation increase or decrease with more competition when innovation follows a memory process? This thesis provides a theoretical model which analyzes the innovation and competition relationship assuming that innovation follows a memory process, i.e. the current probability of innovation...

This article explores the reasons why GMM estimators of production function parametersare generally found to produce unsatisfactory results. I attribute this finding to the inaccurateconstruction of the variables used in production function analysis. In particular, I suggest that theproblem lies...

This paper takes a new look at the effects of mergers on innovation by analysing the relationship between ex-ante technological (and product) relatedness of acquirers and targets and post-merger performances. The analysis is conducted using data on consolidations in the pharmaceutical industry...