Results

Blog

Competition Policy International:

Competition-Friendly Industrial Policy

Industrial policy, essential for addressing market failures, encounters concerns regarding protecting inefficient firms. We advocate for competition-friendly industrial policies, underscoring the complementary relationsh...Read more...

CEP discussion paper

Firm dynamics and growth with soft budget constraints

We develop a model of endogenous growth and firm dynamics with soft budget constraints, where firms differ in their innovation speed and slower firms need additional financing in order to eventually innovate. As creditor...Read more...

Blog

Project Syndicate:

Can Europe create an innovation economy?

After the 30 "glorious" years of economic growth following World War II, European policymakers failed to adopt the institutions and policies to promote disruptive innovation. Now, Europe urgently needs to adopt a new eco...Read more...

Chapter

Industrial policy and competition

in Globalization, Firms, and Workers

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 producti...Read more...

Journal article

American Economic Journal: Economic Policy:

Of mice and academics: examining the effect of openness on innovation

This paper argues that openness, by lowering costs to access existing research, can enhance both early and late stage innovation through greater exploration of novel research directions. We examine a natural experiment i...Read more...