This paper explores cross-country differences in unemployment and innovation patterns from the perspective of "comparative institutional analysis." A generalized efficiency wage model is proposed for the determination of equilibrium unemployment and innovation within two alternative scenarios:...

This paper studies how the assignment of patents as collateral determines the savings of firms and magnifies the effect of innovative rents on investment in research and development (R&D). We analyse the behaviour of innovative firms that face random and lumpy investment opportunities in R&D....

According to the contemporary political economy literature on France, the country appears caught in the worst of all possible worlds: it fails to create the conditions for economic growth and employment by deregulating labour markets as the UK has done, and it lacks the institutional...

According to a recent literature, the positive effect of competition is supposed to be growing with the proximity to the technological frontier. Using a variety of indicators, the paper tests the effect of competition and regulation on innovative activity measured by patenting. The sample...

This paper studies how the assignment of patents as collateral determines the savings of firms and magnifies the effect of innovative rents on investment in research and development (R&D). We analyse the behaviour of innovative firms that face random and lumpy investment opportunities in R&D....