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Distorted Innovation : Does the Market Get the Direction of Technology Right?

Acemoglu, Daron - National Bureau of Economic Research - 2023

innovation can be systematically distorted. This paper builds a simple model of endogenous technology, which generalizes existing … comparative static results and characterizes potential distortions in the direction of innovation. I show that empirical findings …

Persistent link: https://www.econbiz.de/10014226119

Capital and Wages

Acemoglu, Daron - National Bureau of Economic Research - 2024

Does capital accumulation increase labor demand and wages? Neoclassical production functions, where capital and labor are q-complements, ensure that the answer is yes, so long as labor markets are competitive. This result critically depends on the assumption that capital accumulation does not...

Persistent link: https://www.econbiz.de/10014512044

Innovating Firms and Aggregate Innovation

Klette, Tor Jakob - 2002

We develop a parsimonious model of innovating firms rich enough to confront firm-level evidence. It captures the dynamic behavior of individual heterogenous firms, describes the evolution of an industry with simultaneous entry and exit, and delivers a general equilibrium model of technological...

Persistent link: https://www.econbiz.de/10012469896

Investment in New Activities and the Welfare Cost of Uncertainty

Aizenman, Joshua - 1995

Recent literature has highlighted the importance of new activities in development and growth. It was shown that trade distortions such as tariffs are associated with first-order costs stemming from the induced drop in the formation of new activities. This paper demonstrates that uncertainty may...

Persistent link: https://www.econbiz.de/10012473852

Endogenous Innovation in the Theory of Growth

Grossman, Gene M. - 1993

This paper makes the case that purposive, profit-seeking investments in knowledge play a critical role in the long-run growth process. First, we review the implications of neoclassical growth theory and the more recent theories of 'endogenous growth'. Then we discuss the empirical evidence that...

Persistent link: https://www.econbiz.de/10012474415

Substitution and Complementarity in Endogenous Innovation

Young, Alwyn - 1993

technologies in recent models of endogenous innovation. Historical examples of technological change suggest that new technologies …

Persistent link: https://www.econbiz.de/10012474706

A Model of Growth Through Creative Destruction

Aghion, Philippe - 1990

This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogenous growth in emphasizing obsolescence of old technologies induced by the accumulation of knowledge and the resulting process or industrial innovations. This has both...

Persistent link: https://www.econbiz.de/10012475814

Buy, Keep or Sell : Economic Growth and the Market for Ideas

Akcigit, Ufuk - 2013

An endogenous growth model is developed where each period firms invest in researching and developing new ideas. An idea increases a firm's productivity. By how much depends on how central the idea is to a firm's activity. Ideas can be bought and sold on a market for patents. A firm can sell an...

Persistent link: https://www.econbiz.de/10012458900

How Does Expropriation Risk Affect Innovation?

Benavente H., José Miguel; Bravo Ortega, Claudio; … - National Bureau of Economic Research - 2024

We analyze how expropriation risk reduces incentives for innovation and reallocates resources from the innovative … risk, such as corruption, negatively impacts innovation by reducing R&D expenditure, human capital in R&D, number of … highlight the detrimental effects of expropriation risk on innovation and economic development at the country level …

Persistent link: https://www.econbiz.de/10014512142

Can't We All Be More Like Scandinavians? Asymmetric Growth and Institutions in an Interdependent World

Acemoglu, Daron; Robinson, James A.; Verdier, Thierry - 2012

"cutthroat capitalism" that generates greater inequality and more innovation and will become the technology leaders, while others …

Persistent link: https://www.econbiz.de/10012460215

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