Because positive spillovers give investment in innovation a social rate of return several times higher than its … internal rate of return to innovators, innovation is chronically underfunded. Recurrent manias, panics, and crashes in stock … innovation, competition at the economy-level may favor institutions and behavioral norms conducive to innovation-related bubbles …

We document that monetary policy has a substantial impact on innovation activities. After a tightening shock of 100 …-based aggregate innovation index, declines by up to 9 percent in the following 2 to 4 years. Based on previous estimates of the … sensitivity of output to innovation activities, these magnitudes imply that output could be 1 percent lower after another 5 years …

Following periods of intense technological innovation, R&D is a critical driver of technology diffusion, but it is … investor sentiment, we study whether sentiment strengthens the link between aggregate innovation and firm-level R&D for …

technological innovation and future firm-level R&D expenses, which include the resources used for small-scale experimentation. I … find that rapidly improving investor sentiment strengthens the effect of technological innovation on one-year-ahead R … driven by sentiment proxying for technological innovation or by sentiment and R&D expenses being jointly determined. The …

outcomes, innovation, and stock-market outcomes for firms that are in CO2-intensive sectors, i.e. exposed to climate policy … innovation (patent filings), particularly for clean technologies. On the stock market, CPU leads to increased stock volatility … climate policy uncertainty, which delays the low-carbon transition by deterring investment and innovation. …