opportunities. The paper also provides new evidence on induced pharmaceutical innovation. In both cases we use the change in the … demographic structure of the market (measured by age structure and obesity prevalence) to test the induced innovation hypothesis … pharmaceutical innovation responds to aging- and obesity-induced changes in potential market size …

a model of endogenous growth with frictions. Productivity increases with knowledge, which advances via innovation, and … innovation. First, intermediation allows us to finance more transactions with fewer assets. Second, it ameliorates certain …, suggesting that technology transfer is a significant source of innovation and showing how it is affected by credit considerations …

We introduce firm and worker heterogeneity into a model of innovation-driven endogenous growth. Individuals who differ …

. After linking these ideas to the induced innovation literature of the 1960s and the more recent directed technological …

It follows from Hicks' induced innovation hypothesis that rising energy prices in the last two decades should have … induced energy-saving innovation. We formulate the hypothesis concretely using a product-characteristics model of energy … innovation. Through estimation of characteristics transformation surfaces, we find that technological change reduced the total …

We develop a two-country model of endogenous innovation and imitation in order to study the interactions between these … maximizing entrepreneurs. The steady-state equilibrium is characterized by constant aggregate rates of innovation and imitation …