unambiguously fosters innovation activity of firms, and possibly, leads to faster growth. This result rests on two premises which …

We construct a tractable general equilibrium model of cumulative innovation and growth, in which new ideas strictly … the rate of innovation, as well as a separate optimal required inventive step that maximizes welfare, with the former …

We propose an innovation-driven growth model in which education is determined by family background and cognitive … ability. We show that compulsory schooling can move a society from elite education to mass education, which then triggers …, compulsory education is implemented first and triggers the onset of market R&D. According to the British way, market R&D is …

causal effect of human capital on income, net of the innovation channel. …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

We analyse how spatial disparities in innovation activities, coupled with migration costs, affect economic geography …