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 …

Innovation is often predicated on discovering useful new combinations of existing knowledge in highly complex knowledge …, and particle physics. We develop a combinatorial-based knowledge production function and embed it in the classic Jones …. This production function is a generalization (and reinterpretation) of the Romer/Jones knowledge production function …

location, which has been taken as evidence of geographically localized knowledge spillovers. In this study, we find that patent … in question, which we interpret as evidence of a significant role played by social capital in promoting knowledge … find strong evidence in support of the enduring social capital hypothesis; social ties that facilitate knowledge transfer …

We conduct the first empirical test of the knowledge burden hypothesis, one of several theories advanced to explain … increasing team sizes in science. For identification, we exploit the collapse of the USSR as an exogenous shock to the knowledge …

for around 17% of the total increase in the top 1% income share between 1975 and 2010. Yet, innovation does not appear to … increase other measures of inequality which do not focus on top incomes. Next, we show that the positive effects of innovation … vindicate the Schumpeterian view whereby the rise in top income shares is partly related to innovation-led growth, where …

The extant literature linking slack time to innovation focuses on how slack time facilitates creative activities such … are less creative but still important for innovation, namely mundane, execution-oriented tasks. First, we document the …, we report timing and project type evidence consistent with the causal interpretation that slack time drives innovation …

We analyze how demand conditions faced by a firm impacts its innovation decisions. To disentangle the direction of … causality between innovation and demand conditions, we construct a firm-level export demand shock which responds to aggregate … that this finding of a skewed innovation response to common demand shocks arises naturally from a model of endogenous …

interplay of these two localized externalities and their impact on regional innovation. We examine MSA-level patent data during … the period 1975-2000 and find that innovation output is higher where large and small labs coexist. The finding is robust …