This paper makes the case that purposive, profit-seeking investments in knowledge play a critical role in the long …

opportunities. The paper also provides new evidence on induced pharmaceutical innovation. In both cases we use the change in the … demographic structure of the market (measured by age structure and obesity prevalence) to test the induced innovation hypothesis … pharmaceutical innovation responds to aging- and obesity-induced changes in potential market size …

innovation. Agents accumulate knowledge through two activities: innovation (discovering new technologies) and exploitation …

and innovation measurement, but these other benefits do, and motivate quality adjustment methods when semiconductor …

impact by serving as a new general-purpose “method of invention” that can reshape the nature of the innovation process and … stimulating research productivity and innovation-oriented competition going forward …

knowledge is an input into internal invention, and thus, more valuable to firms with inventive capability. Using a simple model … of innovation and imitation, we explore how inventive capability affects a firm's R&D investments, and thus whether and … external knowledge as well as the supply of external inventions. In an advance over the literature, we treat firm inventive …

comparisons of innovations to incumbent technologies. For each innovation in our dataset, we observe its price and quality, as … well as the price and quality of an incumbent technology treating the same disease. Our main finding is that an innovation … over time. We calibrate that price declines of 4% between the time when a treatment is a new innovation and the time when …

on its ability to generate productivity increase, and domestic innovation will be an important part of it. In this paper …. In terms of drivers of innovation growth, we find that embracing expanded market opportunities in the world economy and … misallocation in the innovation area: while state-owned firms receive more subsidies, private firms exhibit more innovation results …

We examine the golden age of U.S. innovation by undertaking a major data collection exercise linking historical U … macro and micro-level determinants. We find a positive relationship between innovation and drivers of regional performance … delayed marriage, and tended to migrate to places that were conducive to innovation. Father's income was positively correlated …

effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …