Spin-offs and the Market for Ideas
---- Acknowledgements ----
We thank Boyan Jovanovic, Chris Phelan, Victor Rios-Rull and seminar participants at the FRB Minneapolis, NYU Stern, Yale, U Penn, UBC, and IIES Stockholm for useful comments. The views expressed in this paper are those of the authors and do not necessarily reflect the views of the Federal Reserve System or the Federal Reserve Bank of Philadelphia. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.