Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable … sharp reduction in the firm's innovation response to exogenous demand shocks for firms just below the regulatory threshold …. We then quantitatively fit the parameters of the model to the data, finding that innovation at the macro level is about 5 …

We document that monetary policy has a substantial impact on innovation activities. After a tightening shock of 100 …-based aggregate innovation index, declines by up to 9 percent in the following 2 to 4 years. Based on previous estimates of the … sensitivity of output to innovation activities, these magnitudes imply that output could be 1 percent lower after another 5 years …

-skill intensive and are associated with innovation, as well as with technology adoption, management, and diffusion within firms. Using …

This paper explores the implications of a simple model of learning and innovation by firms. In this model R … learning and innovation, with learning responding to opportunities, innovation responding to learning and own R&D, and a stream …