Preface: On Wednesday I successfully defended my dissertation and am now the proud holder of PhD in business economics from KU Leuven. In this post I would like to share the opening chapter of my thesis (title: “Three Essays on Innovation Economics”) with you. It’s a bit longer than what I usually put on this blog. But I think it’s worth a look nevertheless. I don’t only give a brief, non-technical introduction into my work but also go into what fascinates me about innovation economics—a field which still lacks the recognition it deserves in mainstream economics. Continue reading What’s Innovation Economics All About?
Germán Gutiérrez and Thomas Philippon from NYU Stern published another interesting NBER working paper this week: Continue reading What explains sluggish business investments?
An interesting paper by Daniel Bradley, Incheol Kim, and Xuan Tian got recently published in Management Science (link to the SSRN version): Continue reading Labor unions may affect innovation negatively
In my field of research we’re often running regressions with innovation expenditures or sales with new products aon the left-hand side. Usually we observe many zeros for these variables because firms do not invest at all in R&D and therefore also do not come up with new products. Many researchers then feel inclined to use Tobit models. But frankly, I never understood why. Continue reading Why Tobit models are overused
Olav Sorenson from Yale published a new NBER working paper called “Innovation Policy in a Networked World”. The essay is quite interesting because it reviews insights we got from social network theory (no, not Facebook, although you could analyze Facebook with the same tools) and puts them into context for designing effective policy measures to stimulate innovation. Continue reading Networking For Innovation
Next week we will organize the 7th ZEW/MaCCI Conference on the Economics of Innovation and Patenting in Mannheim and the program will be great. We will have Bronwyn Hall from Berkeley and Pierre Azoulay from MIT as keynote speakers. I’m definitely looking forward to hear them speak.
Myself, I will present a new project on the relationship between public procurement and innovation. In brief the research question is the following. Continue reading Innovation on (government) demand?
While reading Joel Mokyr’s newest book I came across an older paper of him, which I found very interesting. It is about what Mokyr calls Cardwell’s law*— the empirical regularity that “most societies that have been technologically creative have been so for relatively short periods”. Throughout economic history successful countries in terms of innovation and economic growth have usually lost their competitive edge pretty soon again and were overtaken by others. Continue reading Cardwell’s Law