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 …

or output of a knowledge production function. We suggest that the productivity of research in patent production functions … to patentable knowledge, and development happens after the initial research phase that may have led to a patent. Instead … of using data on R&D, we separate the knowledge creating process into 'R' and 'D'. This data stems from R&D surveys of …

or output of a knowledge production function. We suggest that the productivity of research in patent production functions … to patentable knowledge, and development happens after the initial research phase that may have led to a patent. Instead … of using data on R&D, we separate the knowledge creating process into 'R' and 'D'. This data stems from R&D surveys of …

explain them. We then describe a theoretical framework of endogenous markups, innovation, and competition that can potentially … firms respond to a given concentration in the economy. The results highlight that a decline in knowledge diffusion between …

How do political connections affect firm dynamics, innovation, and creative destruction? To answer this question, we … build a firm dynamics model, where we allow firms to invest in innovation and/or political connection to advance their …