Innovation policy involves trading off monopoly output and pricing in the short run in exchange for incentives for …

This paper explores the economic incentives for medical procedure innovation. Using a proprietary dataset on billing … code applications for emerging medical procedures, we highlight two mechanisms that could hinder innovation. First, the … administrative hurdle of securing permanent, reimbursable billing codes substantially delays innovation diffusion. We find that …

innovation. We identify significant patents based on textual similarity of a given patent to previous and subsequent work: these … aggregate, sectoral, and firm level. Our technology indices span two centuries (1840-2010) and cover innovation by private and …

of creative destruction, we draw a distinction between technological innovation advanced by the firm, or its competitors …. Using administrative data from the United States, we find that own firm innovation is associated with a modest increase in … worker earnings growth, while innovation by competing firms is related to lower future worker earnings. Importantly, these …

Pharmaceutical innovation policy involves managing a tradeoff between high prices for new products in the short … pharmaceuticals, suggesting low(er) price markets may have different dynamics with respect to innovation policy …

We propose a new measure of the economic importance of each innovation. Our measure uses newly collected data on … our measure suggests that technological innovation accounts for significant medium-run fluctuations in aggregate economic …