What drives investment in automation technologies? This paper documents a positive relationship between labor-friendly institutions and investment in industrial robots in a sample of developing and advanced economies. Institutions explain a substantial share of cross-country variation in...

This paper examines whether PageRank algorithms are a valid instrument for the analysis of technical progress in specific technological fields by means of patent citation data. It provides evidence for patent data in biotechnology. Recent literature has been critical with regard to the use of...

Green innovations aim to improve and reduce the environmental impact of economic activities. Thus far, research focus on the positive trajectories of green transition. Recent studies focus also on the speed of transition and on its effects on economic outcomes. Continuing in this direction we...

This paper models the adoption by established firms of technologies that are internally disruptive in that different parts of an organization stand to lose or gain from adoption. When agents disagree with a decision they impose costs on the firm. The paper shows that any resistance to change...

Do large firms produce more valuable inventions, and if so, why? After confirming that large firms indeed produce more valuable inventions, we consider two possible sources: a superior ability to invent, or a superior ability to extract value from their inventions. We develop a simple model that...