The present study examines the importance of Schumpeterian profits in the United States economy. Schumpeterian profits are defined as those profits that arise when firms are able to appropriate the returns from innovative activity. We first show the underlying equations for Schumpeterian...

In 1839, the French government purchased the patent on the Daguerreotype process and" placed it in the public domain. This paper examines a mechanism under which governments" would use an auction to estimate the private value of patents and then offer to buy out patents at" this private value,...

This paper presents a somewhat novel theory of innovation in the economy wide setting. The starting point for this theory is the creative destruction process at the firm and industry level. However, an extension to an economy wide setting requires the explicit theorization of the role of the...

The major claim in Acemoglu, Aghion, Bursztyn & Hemous (2012) (AABH) is that subsidies for research and development of clean technologies are more important than carbon taxes when dealing with climate change. However, they – unconventionally – assume that a patent only lasts for one period....

Was 1994 a watershed? It was dawning of the information age, a period of rapid technological advance associated with the introduction of information technologies. It also was the start of a sharp rise in income inequality and signaled the beginning of the productivity slowdown.

This report first reviews the current discussion about innovation, looking at its definition and theoretical underpinnings from different angles. It is followed by an analysis of the rationale, goals, instruments and organisational framework of innovation policies in the Visegrad Countries. The...

This book is based on the findings, issues and questions related to an ongoing decade-old research project named the Innovation Lab (<a href="http://www.innovation-lab.org">www.innovation-lab.org</a>). The research project focuses on discontinuous innovation in more than thirteen countries, most of which are European, and provides useful...

The paper synthesizes the results of the empirical research of the 2008—2009 global economic crisis determinants. Some of them are additionally tested and specified. In particular, the so called decoupling hypothesis is suggested to be split into weak and strong forms: the developing economies...

This paper discusses the role of education in shaping the geographical breadth of knowledge spillovers. Data pertaining to 6,051 European inventions reveal that inventors with a high level of education, such as a university or doctoral degree, rely more on external spillovers regardless of the...

This study uses data on Luxembourg manufacturing and service firms, sourced from CIS, to illustrate empirical methods of firms’ classification according to pattern and intensity of innovation and the use of technology. This topic is of relevance to Luxembourg, as to date no such specific...