effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

-run growth by increasing the profit from innovation. In the short run, factors of production must be reallocated inside firms …, which lowers the opportunity cost of innovation, generating an additional trapped factor effect. Starting from a baseline …

impact by serving as a new general-purpose “method of invention” that can reshape the nature of the innovation process and … stimulating research productivity and innovation-oriented competition going forward …

segmentation) shaped the underlying incen- tives for innovation in the PC industry during the mid to late 1980s …

This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is … reduce innovation incentives for laggards. There are four key predictions. First, the relationship between product market … competition (PMC) and innovation is an inverted U-shape. Second, the equilibrium degree of technological neck-and-neckness' among …

from pharmaceutical innovation. Extending previous studies of the welfare benefits from innovation (Trajtenberg, 1990 …

innovation infrastructure (cross-cutting factors which contribute broadly to innovativeness throughout the economy), the … environment for innovation in its leading industrial clusters, and the strength of linkages between these two areas. We use this …