We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A …

Economic interest in innovation policy largely arises from the fundamental importance of innovation to social welfare … and from inefficiencies in innovation in a competitive market environment. As a result, a wide variety of public … innovation policies are used in practice. This study reviews the economic justifications for public innovation policies and …

We study the value of innovation in a case study of one of the most visible innovative products in recent years, Apple …