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 …

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

-produced penicillin, antimalarials, and a flu vaccine. We draw on this episode to discuss the economics of crisis innovation. Since the …

Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research … to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations … innovation. Large firms appear to value the golden eggs of science (as reflected in patents) but not the golden goose itself (the …

This chapter reviews academic research on the connections between agglomeration and innovation. We first describe the … conceptual distinctions between invention and innovation. We then describe how these factors are frequently measured in the data …, industrial diversity) that theoretical and empirical work link to innovation, and we discuss factors that help sustain these …

from innovation. In this paper, we revisit that question using a nationally representative sample of firms over the period … of the economics of innovation. There are five main findings. First, while patenting firms are relatively uncommon in the … differences in the type of R&D or innovation produced by a firm. We also discuss the implications of these findings for innovation …

disaggregates "R" from "D" to study how US firms adjust their innovation investments in response to an external increase in funding …

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