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

framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to … regularities regarding innovation and growth differences across the firm size distribution. We also incorporate patent citations …

. The main contribution of this paper is to model the innovation channel of finance explicitly. The paper focuses … particularly on the interaction term between the measure of own innovation and financial development. As countries approach the … technological frontier, own innovation becomes more important to sustain a high growth rate. An adequate level of financial …

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 …