Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable … sharp reduction in the firm's innovation response to exogenous demand shocks for firms just below the regulatory threshold …. We then quantitatively fit the parameters of the model to the data, finding that innovation at the macro level is about 5 …

entrant or incumbent firm. If the inventor works for the entrant the innovation is implemented and the entrant displaces the …

We document that monetary policy has a substantial impact on innovation activities. After a tightening shock of 100 …-based aggregate innovation index, declines by up to 9 percent in the following 2 to 4 years. Based on previous estimates of the … sensitivity of output to innovation activities, these magnitudes imply that output could be 1 percent lower after another 5 years …

' effects on chemical innovation in the U.S. we compare changes in patenting by U.S. inventors in research fields of émigrés ….S. invention. Inventor-level data indicate that émigrés encouraged innovation by attracting new researchers to their fields, rather …