We review the econometric literature on measuring the returns to R&D. The theoretical frameworks that have been used are outlined, followed by an extensive discussion of measurement and econometric issues that arise when estimating the models. We then provide a series of tables summarizing the...

This paper proposes a framework to account for innovation similar to the usual accounting framework in production analysis and a measure of innovativity comparable to that of total factor productivity. This innovation accounting framework is illustrated using micro-aggregated firm data from the...

In this paper, we put forward the idea of an innovation accounting framework and consider two main indicators based on it: expected innovation and innovativeness. The framework is the analogue of the standard framework of economic growth accounting, with innovativeness being a parallel notion to...