causal effect of human capital on income, net of the innovation channel. …

We construct a tractable general equilibrium model of cumulative innovation and growth, in which new ideas strictly … the rate of innovation, as well as a separate optimal required inventive step that maximizes welfare, with the former …

defend their monopoly position and prevent innovation and entry of high-quality competitors. This requires that the incumbent … quality upgrade related to innovation. Consistently with our empirical findings, the model delivers a negative association …

inflation on welfare, growth and the size of the financial sector. A novel feature is that the innovation sector is … imposing a cash-in-advance constraint in the innovation sector. …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

We consider an R&D-driven endogenous growth model in which innovation is risky and agents are risk averse. Growth is … social insurance, thus encouraging innovation and accelerating growth. The general equilibrium effects of the reallocation of …

The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists … productive and active VC industry boosts innovation driven growth. …

This paper provides new evidence on the relationship between innovation, competition and distance to the technology … product innovations. Secondly, there is evidence that innovation and competition are more positively correlated at low levels … positively correlated with product innovation when a firm is more advanced than its main competitor. In other cases, this …

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex … welfare, amount of innovation and output growth at intermediate stages of technological development - periods when legal …