We construct a tractable general equilibrium model of cumulative innovation and growth, in which new ideas strictly … the rate of innovation, as well as a separate optimal required inventive step that maximizes welfare, with the former …

The European Union has implemented demand push and technology pull policies to foster innovation on the energy and … rarely treats product and process innovation separately and product quality is, in the best case, exogenous. We develop a … dynamic multi-sector CGE model that distinguishes between R&D-based process innovation for all firms, endogenous product …

This paper studies the effects of public research (publications) and innovation output (patents) on national economic … as well as less and more developed countries are studied separately. The results confirm the effect of innovation output … on productivity for more developed countries. Simultaneously, innovation output is found to have negative impacts on …

of highly valued products. In so doing, we suggest an innovation policy framework based on two pillars: (i) the … economy. We argue that the latter area has been overlooked in the policy discussion and that a coherent innovation policy …

Given the role that innovation plays as an engine for economic development, we examined the enabling factor of … innovation. A sample of 40 African countries over the period 1996-2012 was employed; and our baseline equation was estimated … effectiveness and regulatory quality are two institutional measures that have the most equivalent impact on innovation. This result …

How do innovation and education policy affect individual career choice and aggregate productivity? This paper analyzes … about the links between talent, higher education, and innovation. We use these facts to calibrate the model and study … when combined with higher education policy that alleviates financial frictions for talented youth. Education and innovation …

content of government procurement in innovation. We theoretically show that a shift in the composition of public purchases … toward high-tech products translates into higher economy-wide returns to innovation, leading to an increase in the aggregate …