externalities but also by innovation market failures. This paper maps the economics literature on innovation market failures and …

R&D innovation. Our key insight is that a country has incentives to influence foreign innovation efforts across sectors … and over time---giving rise to optimal policies even when the private innovation allocations are (Pareto) efficient. We … same time invoking domestic innovation subsidies during transition. By contrast, optimal policies under exogenous …

Venture capital plays an important role in funding and shaping innovation outcomes, characterized by investors' deep … and innovation community. China, in its pursuit of global leadership in AI innovation and technology, has set up …-led venture capital funds combine features of private venture capital with traditional government innovation policies. In this …

If innovation is to be subsidized, a natural place to start is to increase the quantity and quality of human capital …. Innovation, after all, begins with people. Simply stimulating the "demand side" through R&D subsidies and tax breaks may only … can both directly increase innovation and reduce its cost. This paper examines the evidence on human capital policies for …

Innovation policy can be a crucial component of governments' responses to crises. Because speed is a paramount … objective, crisis innovation may also require different policy tools than innovation policy in non-crisis times, raising … distinct questions and tradeoffs. In this paper, we survey the U.S. policy response to two crises where innovation was crucial …

state of the literature on the economics of innovation and highlight open policy questions. We first articulate the key … market failures in markets for innovation, and then discuss how both scientific norms and market-oriented policies help … between innovation and inequality …

Can frontier innovation be sustained under autocracy? We argue that innovation and autocracy can be mutually … stimulates further innovation in applications beyond those benefiting it directly. We test for such a mutually reinforcing … suppresses subsequent unrest. We then show that AI innovation benefits from autocrats' suppression of unrest: the contracted AI …