Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research … to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations … innovation. Large firms appear to value the golden eggs of science (as reflected in patents) but not the golden goose itself (the …

reduces carbon emissions by inducing substitution away from coal. Yet, the natural gas boom discourages innovation directed at …

major changes in the American innovation ecosystem over the past century. The past three decades have been marked by a …

of innovation and imitation, we explore how inventive capability affects a firm's R&D investments, and thus whether and … innovation and the division of innovative labor among US manufacturing firms, we find that high capability firms tend to use …

We study a dynamic general equilibrium model where innovation takes the form of the introduction new goods, whose … production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are … substitution between goods and other parameters. Third, we show that the interplay between innovation and standardization may lead …

The history of innovation in the chemical industry offers many insights for accelerating energy innovation. In this … chapter, we begin by laying out the early history of the chemical industry for an overview of the role innovation has played … coal to oil, and briefly analyze two government programs that have attempted to promote innovation: synthetic rubber and …

This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the … project to implement. A successful innovation can be copied by other firms. Symmetric equilibria (where actions do not depend … equilibria). In contrast to patents, subsidies to experimentation, research, or innovation cannot typically achieve this …

This paper investigates the effect of (potential) market size on entry of new drugs and pharmaceutical innovation …