This paper challenges the key assumption in "idea based growth models" that innovation rents ultimately reward the … bulk of the innovation rents and are generally the residual claimant. We develop a model that separates invention from … innovation where new ideas are a costless spillover from profit motivated corporate R&D aimed at improving existing production …

innovation and a private sector, for-profit business model that implements the ideas on innovation and entrepreneurship …, primarily in metro regional economies.Radical innovation occurs when technology from two distinct industrial clusters are … crossed, resulting in an entirely new product. In contrast, sustaining innovation usually involves adding technological …

We formulate a model that explicitly separates two functions in the innovation process: The introduction of new goods … stable non trivial allocation of labor to production, innovation and entrepreneurship. We compute the steady state allocation … of labor to production, R&D and Entrepreneurship. We show that the innovation rate decreases if one of the innovative …

We formulate a model that explicitly separates two functions in the innovation process: The introduction of new goods … stable non trivial allocation of labor to production, innovation and entrepreneurship. We compute the steady state allocation … of labor to production, R+D and Entrepreneurship. We show that the innovation rate decreases if one of the innovative …

growth and convergence of an economy towards the world technology frontier. -- Growth ; skills ; innovation ; selection …