An inventor's own knowledge is a key input in the innovation process. This knowledge can be built by interacting with … of our new innovation-led endogenous growth model, in which innovations are produced by heterogeneous research teams of … model nests inside the innovation-based endogenous growth model. We estimate the model, which fits the data very closely …

innovation. After identifying pervasive market failures in innovation, it explains why those associated with the Nordic model may … be particularly conducive to innovation, and demonstrates that, in general, the optimal policies of the leader should … industrial policies, public investments, and systems of social protection), not only leading to more innovation, but ensuring …

by the composition and extent of aggregate demand. The direction and speed of innovation is inefficient because …

The contribution made by innovation and new technologies to economic growth and welfare is largely determined by the … neglected one in the economics of innovation. This chapter, written for a handbook on innovation, provides a historical and …

innovation. Agents accumulate knowledge through two activities: innovation (discovering new technologies) and exploitation …

This paper is an attempt to explain diffusion in the production of an innovation. Diffusion in production is defined as … innovation. The principal variable that explains diffusion of entry is the demonstration effect. The principal variable that …