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Papers by Monika Schnitzer
MItarBeIterInnen und MItarBeIter der expertenkoMMIssIon ForschunG und InnovatIon (eFI) Dieses Gut... more MItarBeIterInnen und MItarBeIter der expertenkoMMIssIon ForschunG und InnovatIon (eFI) Dieses Gutachten beruht auch auf der sachkundigen und engagierten Arbeit der Mitarbeiterinnen und Mitarbeiter der Geschäftsstelle sowie bei den Kommissionsmitgliedern.
Wirtschaftsdienst, Mar 1, 2013
If the documents have been made available under an Open Content Licence (especially Creative Comm... more If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence.
Social Science Research Network, 2012
MItarBeIterInnen und MItarBeIter der expertenkoMMIssIon ForschunG und InnovatIon (eFI) Dieses Gut... more MItarBeIterInnen und MItarBeIter der expertenkoMMIssIon ForschunG und InnovatIon (eFI) Dieses Gutachten beruht auch auf der sachkundigen und engagierten Arbeit der Mitarbeiterinnen und Mitarbeiter der Geschäftsstelle sowie bei den Kommissionsmitgliedern.
Die Zukunft des Kapitalismus, 2019
Economic Incentives and International Trade by Dalia Marin and Monika Schnitzer This paper studie... more Economic Incentives and International Trade by Dalia Marin and Monika Schnitzer This paper studies the importance of incentives as a determinant of international trade flows. We argue that barter, countertrade and foreign direct investment can be seen as efficient institutions that mitigate contractual hazards which arise in technology trade, marketing and imperfect capital markets. Paying an import with export goods rather than cash (barter) helps to overcome incentive problems that arise in debt repayment of highly indebted countries. Payment in export goods removes the anonymity of the medium of exchange and thus allows to create a collateral for the creditor. Furthermore, tying an import with an export (countertrade) helps to solve the incentive problems related to the technology transfer to developing countries. The export flow serves as a "hostage" that deters cheating on the quality of the imported technology good. The predictions of the two models are consistent wi...
SSRN Electronic Journal, 2021
hosts the papers of the Digital Regulation Project as a way for some of the world's leading econo... more hosts the papers of the Digital Regulation Project as a way for some of the world's leading economists and regulatory experts to present policy recommendations, based on their relevant research and expertise. The Tobin Center does not take policy positions and therefore the content does not represent the positions of the Tobin Center or Yale University.
SSRN Electronic Journal, 2021
SSRN Electronic Journal, 2021
hosts the papers of the Digital Regulation Project as a way for some of the world's leading econo... more hosts the papers of the Digital Regulation Project as a way for some of the world's leading economists and regulatory experts to present policy recommendations, based on their relevant research and expertise. The Tobin Center does not take policy positions and therefore the content does not represent the positions of the Tobin Center or Yale University.
The Review of Economics and Statistics, 2020
This paper shows that venture capital investment in start-ups increases innovation of established... more This paper shows that venture capital investment in start-ups increases innovation of established companies in technologically related fields due to knowledge spillovers. To address endogeneity issues, we instrument R&D expenditures of established companies with state-level R&D tax credits (Bloom, Schankerman, & Van Reenen, 2013) and venture capital investment with past fundraising of private equity buyout funds (Nanda & Rhodes-Kropf, 2013). Exploring the mechanism, we show that the patents of VC-financed start-ups are on average of higher quality, more novel, and less protected by intellectual property rights than those of established firms, leading to significantly larger spillovers. This knowledge transfer between companies is enhanced by mobile start-up inventors.
MItarBeIterInnen und MItarBeIter der expertenkoMMIssIon ForschunG und InnovatIon (eFI) Dieses Gut... more MItarBeIterInnen und MItarBeIter der expertenkoMMIssIon ForschunG und InnovatIon (eFI) Dieses Gutachten beruht auch auf der sachkundigen und engagierten Arbeit der Mitarbeiterinnen und Mitarbeiter der Geschäftsstelle sowie bei den Kommissionsmitgliedern.
Wirtschaftsdienst, Mar 1, 2013
If the documents have been made available under an Open Content Licence (especially Creative Comm... more If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence.
Social Science Research Network, 2012
MItarBeIterInnen und MItarBeIter der expertenkoMMIssIon ForschunG und InnovatIon (eFI) Dieses Gut... more MItarBeIterInnen und MItarBeIter der expertenkoMMIssIon ForschunG und InnovatIon (eFI) Dieses Gutachten beruht auch auf der sachkundigen und engagierten Arbeit der Mitarbeiterinnen und Mitarbeiter der Geschäftsstelle sowie bei den Kommissionsmitgliedern.
Die Zukunft des Kapitalismus, 2019
Economic Incentives and International Trade by Dalia Marin and Monika Schnitzer This paper studie... more Economic Incentives and International Trade by Dalia Marin and Monika Schnitzer This paper studies the importance of incentives as a determinant of international trade flows. We argue that barter, countertrade and foreign direct investment can be seen as efficient institutions that mitigate contractual hazards which arise in technology trade, marketing and imperfect capital markets. Paying an import with export goods rather than cash (barter) helps to overcome incentive problems that arise in debt repayment of highly indebted countries. Payment in export goods removes the anonymity of the medium of exchange and thus allows to create a collateral for the creditor. Furthermore, tying an import with an export (countertrade) helps to solve the incentive problems related to the technology transfer to developing countries. The export flow serves as a "hostage" that deters cheating on the quality of the imported technology good. The predictions of the two models are consistent wi...
SSRN Electronic Journal, 2021
hosts the papers of the Digital Regulation Project as a way for some of the world's leading econo... more hosts the papers of the Digital Regulation Project as a way for some of the world's leading economists and regulatory experts to present policy recommendations, based on their relevant research and expertise. The Tobin Center does not take policy positions and therefore the content does not represent the positions of the Tobin Center or Yale University.
SSRN Electronic Journal, 2021
SSRN Electronic Journal, 2021
hosts the papers of the Digital Regulation Project as a way for some of the world's leading econo... more hosts the papers of the Digital Regulation Project as a way for some of the world's leading economists and regulatory experts to present policy recommendations, based on their relevant research and expertise. The Tobin Center does not take policy positions and therefore the content does not represent the positions of the Tobin Center or Yale University.
The Review of Economics and Statistics, 2020
This paper shows that venture capital investment in start-ups increases innovation of established... more This paper shows that venture capital investment in start-ups increases innovation of established companies in technologically related fields due to knowledge spillovers. To address endogeneity issues, we instrument R&D expenditures of established companies with state-level R&D tax credits (Bloom, Schankerman, & Van Reenen, 2013) and venture capital investment with past fundraising of private equity buyout funds (Nanda & Rhodes-Kropf, 2013). Exploring the mechanism, we show that the patents of VC-financed start-ups are on average of higher quality, more novel, and less protected by intellectual property rights than those of established firms, leading to significantly larger spillovers. This knowledge transfer between companies is enhanced by mobile start-up inventors.