We examine market selection mechanisms and their strength for a representative cohort of US new independent firms. In particular, we explore whether and how effectively markets reward newly-born firms according to their ‘fitness’ in terms of both labour productivity and profitability. Our analysis yields puzzling results in contrast with canonical industry dynamics models. First, we […]
Search results for "Growth and survival of the ‘fitter’? Evidence from US new-born firms"
Deliverable number/ Alternative classification WP number Authors Title Published version Work Package 1: The European scientific and technological knowledge bases, patterns of innovation and structural changes Deliverable: 1.1 12A/2018 V. Cirillo A. Martinelli A. Nuvolari M. Tranchero How it all began: The long term evolution of scientific and technological performance and the diversity of National […]
Threshold Policy Effects and Directed Technical Change in Energy Innovation (11/2018) Lionel Nesta, Elena Verdolini and Francesco Vona – 5 May 2018 This paper analyzes the effect of environmental policies on the direction of energy innovation across countries over the period 1990-2012. Our novelty is to use threshold regression models to allow for discontinuities in […]