The pace of innovation is related both to the level of investment in innovation and the pool of knowledge from which … innovators can draw. Both of these are endogenous: Investments in innovations are affected by the pool of knowledge and the … and design of IPR affects the extent to which any innovation adds to or subtracts from the pool of ideas that are …

-constraints and the profitability of engaging in innovation (R&D). We decompose the effects of RER changes on productivity growth …

This paper analyzes equilibrium, dynamics, and optimal decisions on the factor bias of innovation in a model of induced … innovation. In a model with full employment, we show that (a) if the elasticity of substitution is always less than or greater …, there will be a bias towards excessive labor augmenting innovation, resulting in too high unemployment, with convergence to …

It concludes by constructing a simple model in which knowledge flows slowly across national borders but moves easily … innovation. After identifying pervasive market failures in innovation, it explains why those associated with the Nordic model may … be particularly conducive to innovation, and demonstrates that, in general, the optimal policies of the leader should …