Search
Now showing items 1-6 of 6
Innovation and Institutional Ownership
(National Bureau of Economic Research, 2009)
We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests ...
Schumpeterian Growth Theory and the Dynamics of Income Inequality
(Econometric Society, 2002)
In this lecture, it is argued that Schumpeterian Growth Theory, in which growth is driven by a sequence of quality-improving innovations, can shed light on two important puzzles raised by the recent evolution of wage ...
The Environment and Directed Technical Change
(2009)
This paper introduces endogenous and directed technical change in a growth model with environmental constraints and limited resources. A unique final good is produced by combining inputs from two sectors. One of these ...
Growth, Trade, and Inequality
(2014)
We introduce firm and worker heterogeneity into a model of innovation-driven endogenous growth. Individuals who differ in ability sort into either a research sector or a manufacturing sector that produces differentiated ...
Optimal Capital Versus Labor Taxation with Innovation-Led Growth
(National Bureau of Economic Research Inc, 2012)
Chamley (1986) and Judd (1985) showed that, in a standard neoclassical growth model with capital accumulation and infinitely lived agents, either taxing or subsidizing capital cannot be optimal in the steady state. In this ...
Industrial Policy and Competition
(2012)
Using a comprehensive dataset of all medium and large enterprises in China between 1998 and 2007, we show that industrial policies allocated to competitive sectors or that foster competition in a sector increase productivity ...