questions. The economy consists of many industries and firms engaged in cumulative (step-by-step) innovation. IPR policy … same innovation(s) themselves or by making some pre-specified payments to the technological leaders. We prove the existence …

questions. The economy consists of many industries and firms engaged in cumulative (step-by-step) innovation. IPR policy … same innovation(s) themselves or by making some pre-specified payments to the technological leaders. We prove the existence …

questions. The economy consists of many industries and firms engaged in cumulative (step-by-step) innovation. IPR policy … same innovation(s) themselves or by making some pre-specified payments to the technological leaders. We prove the existence …

"We study a dynamic general equilibrium model where innovation takes the form of the introduction new goods, whose … production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are … substitution between goods and other parameters. Third, we show that the interplay between innovation and standardization may lead …