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

innovation can be systematically distorted. This paper builds a simple model of endogenous technology, which generalizes existing … comparative static results and characterizes potential distortions in the direction of innovation. I show that empirical findings …

Despite the rapid pace of innovation in information and communications technologies (ICT) and electronics, aggregate US … stems in part from an unbalanced sectoral distribution of innovation over the last several decades. Because an industry …'s success in innovation depends on complementary innovations among its input suppliers, rapid productivity growth that is …

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

"cutthroat capitalism" that generates greater inequality and more innovation and will become the technology leaders, while others …

change and innovation has radically changed the living standards of the citizens of the US in the past 150 years. Lying … the presence of post offices in a county, on innovation. We show that between 1804 and 1899, the time when the US became …

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 …

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 …