If innovation is to be subsidized, a natural place to start is to increase the quantity and quality of human capital …. Innovation, after all, begins with people. Simply stimulating the "demand side" through R&D subsidies and tax breaks may only … can both directly increase innovation and reduce its cost. This paper examines the evidence on human capital policies for …

since the mid-1930s when banks invented the term loan. Concurrently, bank innovation first involved the invention of credit … analysis and covenant design. Later, bank innovation included the advent of loan sales, increased loan syndications, the … calibrate a model of bank innovation to determine the quantitative contribution of bank innovation to economic growth …

economy as a whole. Racial and gender inequality can limit the entire economy's productive capacity and innovation outcomes … and commercialization data, we examine racial and gender disparities at each stage of the innovation process …

labor supply, tax avoidance and evasion, and geographic mobility. But one margin that taxes may affect -- innovation -- is … less frequently considered. Conceptually, taxes reduce the expected net returns to innovation inputs and can reduce … innovation. Much like other margins of responses to taxes, this efficiency cost must be taken into account. Innovation is done by …

This paper explores the economic incentives for medical procedure innovation. Using a proprietary dataset on billing … code applications for emerging medical procedures, we highlight two mechanisms that could hinder innovation. First, the … administrative hurdle of securing permanent, reimbursable billing codes substantially delays innovation diffusion. We find that …

Two central insights from the Schumpeterian approach to innovation and growth are that the pace of innovation is … empirical literature on trade and innovation. We highlight four key mechanisms through which international trade affects … endogenous innovation and growth: (i) market size; (ii) competition; (iii) comparative advantage; (iv) knowledge spillovers. Each …

their innovation activities in response to the potential entry of direct competitors. We then examine a legal ruling that … firms increased their net innovation activities in response to competitive entry. These effects center on firms with … innovation by new entrants after the ruling in response to increased competition. Overall, these results are consistent with …