life, while laying the foundation for postwar innovation policy. Scholars and policymakers have appealed to the wartime … innovation effort: priority setting, selecting and engaging researchers, a funding mechanism, coordinating research efforts, and … framework for decision-making. We conclude by discussing other lessons from OSRD, such as what makes crisis innovation policy …

response of aggregate productivity, output, and welfare to a policy-induced change in the innovation intensity of the economy … output over a 20-year horizon with uniform subsidies to firms' investments in innovation of a reasonable magnitude, but the …

lead to the innovation sought, others result in dead ends. Because firms benefit from their competitors working in the …

, paradoxical effects, providing short-term openness while stifling longer-term innovation. Implications for empirical evaluation …

firms. Our key finding is that standard innovation policies (e.g., uniform R&D tax credits) can accentuate the dynamic …