The United States Department of Commerce, Technology Administration provided support to the Phoenix Center to study the causes and potential solutions of the Valley of Death for technology development in the United States under Study Contract No. SB1341-05-2-0023 administered by KT Consulting,...

We consider an important class of research and development (R&D) investments in public and private entities that require selection from a large number of proposals such that: (1) the potential monetary value of the proposals is not a first-order factor in the selection; and (2) the investments...

Leveraging a new measure of patent citation trees (Corredoira & Banerjee, 2015), we demonstrate that research funded by the federal government is likely to spark more active technological trajectories. Our findings tie government funding to the generation of breakthrough inventions. The...

We study the cyclicality of public R&D in 28 OECD countries (1995-2017). While procyclical on average, public R&D reacts asymmetrically over different phases of the business cycle and becomes acyclical during recessions. It is also heterogeneous across countries: Innovation leaders and followers...

This paper integrates findings from several different case studies on Mission-Oriented Innovation Policies (MOIPs) and makes use of existing literature to briefly describe three other missions: The War on Cancer, homeownership in the United States, and the Swedish Million Program. Together with...

The academic literature on the prize system describes prizes as a radical alternative to intellectual property. The debate over which system is preferable has existed for centuries, and usually boils down to a single question: can the government determine the appropriate reward for innovations...

We investigate whether the impact of direct support for business investment in R&D and innovation varies over the business cycle. We study whether firms that obtain public support in a recession differ from firms that obtain it during expansions; whether the impact of support is smaller in...

We investigate whether the impact of direct support for business investment in R&D and innovation varies over the business cycle. We study whether firms that obtain public support in a recession differ from firms that obtain it during expansions; whether the impact of support is smaller in...

We study the cyclicality of public R&D in 28 OECD countries (1995 - 2017). While procyclical on average, public R&D reacts asymmetrically over different phases of the business cycle and becomes acyclical during recessions. It is also heterogeneous across countries: Innovation leaders and...