questions about the pro-cyclicality of VC and its implications for innovation, especially in light of the common narrative that … VC is relatively insulated from public markets. We find that the implications for innovation are not benign: innovation … discussion on the nature of innovation across business cycles …

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 …

We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This … related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects … innovation and changing external conditions, especially reduced experimentation costs …

failure tolerance and a sharp guillotine helps explain when and where radical innovation occurs …

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

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 …