Governments play a very important role in supporting innovation, managing the disruptive effects of innovation, and … ensuring that the benefits of innovation are broadly shared in the long run. This paper reviews the literature on market … mechanisms that translate innovation into jobs and policies that are needed to improve outcomes. Although many countries now …

This paper proposes a quantitative model of firm dynamics with endogenous innovation to study growth acceleration …

innovative activities and toward safer but return-dominated ones, and therefore reduces long-run growth. The theory makes … percentage point increase in inflation reduces the establishment-level probability of innovation by 4.3 percent but does not …