This paper studies the effects of public research (publications) and innovation output (patents) on national economic growth with the help of a GMM panel regression including 114 countries. Effects on productivity growth and capital and labor inputs are distinguished. Furthermore, different time...

We provide the first theoretical analysis of a one-sector, discrete-time, Schumpeterian model of growth in a regional economy in which consumers are risk neutral, there is no population growth, monopolistic entrepreneurs produce intermediate goods, and a single consumption good is produced...

We analyze the relative growth performance of open economies in a two-country model where different endowments of labor and a natural resource generate asymmetric trade. A resource-rich economy trades resource-based intermediates for final manufacturing goods produced by a resource-poor economy....

This paper explores the relationship between product innovation and consumption inequality. We employ a modified version of the agent-based macroeconomic model in Georges (2011, 2015). A rise in rents accruing to salaried workers can shift both production and R&D spending toward products...

The authors provide the first theoretical analysis of a one-sector, discreet-time, Schumpeterian model of growth in a regional economy in which consumers are risk neutral, there is no population growth, monopolistic entrepreneurs produce intermediate goods, and a single consumption good is...

We develop a tractable dynamic model of productivity growth and technology spillovers that is consistent with the emergence of real world empirical productivity distributions. Firms can improve productivity by engaging in in-house R\&D, or alternatively, by trying to imitate other firms'...

We model distribution, the delivery of goods to customers, as an activity governed by its own technology and undertaken by firms subsequently to production operations. We then use the model to investigate how distribution shapes innovation-driven economic growth. We contrast two canonical...

The purpose of this paper is to identify and unravel the disparate views toward innovation prevalent within the economic community and to link them to the various public policy approaches. These various schools of thought, or ways of thinking about the economy in general and the role of...

Evidence shows that firms build their market position by consistently investing in R&D over time and accumulating knowledge protected by secrecy, patents and other appropriability devices. To explore the macroeconomic implications of this fact, I construct an economy where oligopolistic firms...

Schumpeter’s notion of creative destruction assumes that volatile growth leads to a more efficient reallocation of resources and the adoption of new technologies. However, this can only occur if such productivity-enhancing opportunities are available within society. This availability is...