"Since the late 1980s, the Chinese economy has been growing at an enviable average annual rate of about 10 per cent. Accompanying this unprecedented economic development and growth was the [...]
We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A new and central economic force is the selection between high- and low-type firms, [...]
Do political connections affect firm dynamics, innovation, and creative destruction? We study Italian firms and their workers to answer this question. Our analysis uses a brand-new dataset, spanning the period [...]
This paper examines how intellectual property rights (IPR) protection affects innovation and foreign direct investment (FDI) using a North–South quality-ladder model incorporating the exogenous and costless imitation of technology and [...]
The high-tech sector is increasingly concentrated in a small number of expensive cities, with the top ten cities in “Computer Science”, “Semiconductors” and “Biology and Chemistry”, accounting for 70%, 79% [...]
I begin, in Part I, by showing that Aquinas’ just price resembles the price emerging from voluntary exchange rather than a regulated price resulting from involuntary exchange, such as compulsory [...]
Why should a property interest exist in an intangible item? In recent years, arguments over intellectual property have often divided proponents – who emphasize the importance of providing incentives for [...]
Digital crowdfunding platforms that raise money directly from citizens have created an alternative source of research funding. This column analyses data from the largest science crowdfunding platform, Experiment.com. It finds [...]
This paper studies the effects of the USPTO's patent secrecy program in World War II, under which approximately 11,200 U.S. patent applications were issued secrecy orders which halted examination and [...]
This paper provides evidence that risk aversion leads pharmaceutical firms to underinvest in radical innovation. We define a drug candidate as novel if it is molecularly distinct from prior candidates. [...]