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When they are used together, economic history and new growth theory give a more complete picture of technological change than either can give on its own. An empirical strategy for studying growth that does not use historical evidence is likely to degenerate into sterile model testing exercises....
Persistent link: https://www.econbiz.de/10012473421
To explain why trade restrictions sometimes speed up worldwide growth and sometimes slow it down, we exploit an analogy with the theory of consumer behavior. substitution effects make demand curves slope down, but income effects can increase or decrease the slope, and can sometimes overwhelm the...
Persistent link: https://www.econbiz.de/10012475426
In a world with two similar, developed economies, economic integration can cause a permanent increase in the worldwide rate of growth. Starting from a position of isolation, closer integration can be achieved by increasing trade in goods or by increasing flows of ideas. We consider two models...
Persistent link: https://www.econbiz.de/10012475469
like education and experience on the one hand, and knowledge or science on the other? and How do knowledge and science …
Persistent link: https://www.econbiz.de/10012475868
From the beginning, growth theory has been faced with technically challenging questions about increasing returns and the way to capture ideas in a model of market exchange. Initially, reliance on perfect competition forced growth theory to narrow its scope. Recently, new tools for studying...
Persistent link: https://www.econbiz.de/10012475947
We introduce new historical administrative data identifying U.S. government-funded patents since the early twentieth century. In addition to the funding agency, the data report whether the government has title to the patent ("title" patents) or funded a patent assigned to a private organization...
Persistent link: https://www.econbiz.de/10014486228
The typical economic model implicitly assumes that the set of goods in an economy never changes. As a result, the predicted efficiency loss from a tariff is small, on the order of the square of the tariff rate. If we loosen this assumption and assume that international trade can bring new goods...
Persistent link: https://www.econbiz.de/10012474494
This report surveys the empirical literature from economics and related fields on patents and innovation. In particular …, it reviews and synthesizes the empirical evidence on patents and first-generation innovation, the disclosure function of … patents, and patents and follow-on innovation. The main results are summarized in fifteen charts …
Persistent link: https://www.econbiz.de/10012481031
World War II innovation model in other crises. In this essay we describe exactly how it worked. We do so first through a … general overview of how OSRD approached several questions that may confront any crisis innovation effort: priority setting … innovation policy different, how crisis innovation policy approaches may vary, and the limits to generalizing from World War II …
Persistent link: https://www.econbiz.de/10012482128
-produced penicillin, antimalarials, and a flu vaccine. We draw on this episode to discuss the economics of crisis innovation. Since the …
Persistent link: https://www.econbiz.de/10012482553