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	Provedor de dados AgEcon (2) Autor Aghion, Philippe (2) Acemoglu, Daron (1) Bursztyn, Leonardo (1) Hemous, David (1) Van Reenen, John (1) Zingales, Luigi (1) Mais... Palavra-chave Innovation (2) O31 (2) O33 (2) C65 (1) Career Concerns (1) Directed Technological Change (1) Environment (1) Environmental Economics and Policy (1) Exhaustible Resources (1) Financial Economics (1) G20 (1) G32 (1) Institutional Ownership (1) O30 (1) O32 (1) Productivity and R&D (1) Mais... Tipo do documento Working or Discussion Paper (2) Ano 2010 (2) País United States (2) Idioma Inglês (2)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 2 Primeira ... 1 ... Última The Environment and Directed Technical Change AgEcon Acemoglu, Daron; Aghion, Philippe; Bursztyn, Leonardo; Hemous, David. This paper introduces endogenous and directed technical change in a growth model with environmental constraints. A unique final good is produced by combining inputs from two sectors. One of these sectors uses "dirty" machines and thus creates environmental degradation. Research can be directed to improving the technology of machines in either sector. We characterize dynamic tax policies that achieve sustainable growth or maximize intertemporal welfare. We show that: (i) in the case where the inputs are sufficiently substitutable, sustainable long-run growth can be achieved with temporary taxation of dirty innovation and production; (ii) optimal policy involves both “carbon taxes” and research subsidies, so that excessive use of carbon taxes is avoided;... Tipo: Working or Discussion Paper Palavras-chave: Environment; Exhaustible Resources; Directed Technological Change; Innovation; Environmental Economics and Policy; O30; O31; O33; C65. Ano: 2010 URL: http://purl.umn.edu/92839 Innovation and Institutional Ownership AgEcon Aghion, Philippe; Van Reenen, John; Zingales, Luigi. 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 the lazy-manager hypothesis with career-concerns, where institutional owners increase managerial incentives to innovate by reducing the career risk of risky projects. The data supports the career concerns model. First, whereas the lazy manager hypothesis predicts a substitution effect between institutional ownership and product market competition (and managerial entrenchment generally), the career-concern model allows for complementarity. Empirically, we reject substitution effects. Second, CEOs are less likely to be fired in the face of... Tipo: Working or Discussion Paper Palavras-chave: Career Concerns; Innovation; Institutional Ownership; Productivity and R&D; Financial Economics; G20; G32; O31; O32; O33. Ano: 2010 URL: http://purl.umn.edu/93414 Registros recuperados: 2 Primeira ... 1 ... Última

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