Macroeconomic Modelling of R&D and Innovation Policies

Macroeconomic Modelling of R&D and Innovation Policies PDF

Author: Ufuk Akcigit

Publisher: Springer Nature

Published: 2021-11-03

Total Pages: 222

ISBN-13: 3030714578

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This open access book encompasses a collection of in-depth analyses showcasing the challenges and ways forward for macroeconomic modelling of R&D and innovation policies. Based upon the proceedings of the EC-DG JRC-IEA workshop held in Brussels in 2017, it presents cutting-edge contributions from a number of leading economists in the field. It provides a comprehensive overview of the current academic and policy challenges surrounding R&D as well as of the state-of-the-art modelling techniques. The book brings to the forefront outstanding issues related to the assessment of the macroeconomic impact of R&D policies and its modelling. It speaks to the rising importance of R&D and innovation policy, and the proliferation of macroeconomic models featuring endogenous technological change. The contents of this book will be of interest to both academic and policy audiences working in the fields of R&D and innovation.

Innovations in Macroeconomics

Innovations in Macroeconomics PDF

Author: Paul J. J. Welfens

Publisher: Springer Science & Business Media

Published: 2007

Total Pages: 456

ISBN-13:

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Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. Moreover, product and process innovations have been only partially integrated. The analysis suggests new approaches to innovations in open economies in many ways, including the Schumpeterian Mundell-Fleming model and new monetary growth models. A specific focus is on the role of innovations for output, employment and exchange rate developments. This book presents a new link between monetary analysis and growth modelling in open economies. Structural change, innovations and growth are considered from a new perspective. With respect to economic policy - in particular innovation policy - the analysis implies major changes, concerning both EU countries and other leading OECD economies. This important new book sets a new direction for macroeconomics. By linking several strands of fundamental economic thinking into a coherent, integrated framework it provides a pathbreaking understanding into the fundamental forces shaping macroeconomic performance. In particular, by injecting insights from the Schumpeterian model, the author succeeds in presenting a new policy framework to guide economic growth policy. Prof. Dr. David Audretsch, Institute of Development Strategies, Indiana University, Bloomington, USA

Innovations in Macroeconomics

Innovations in Macroeconomics PDF

Author: Paul J.J. Welfens

Publisher: Springer Science & Business Media

Published: 2007-03-06

Total Pages: 446

ISBN-13: 3540682163

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Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. This book presents a new link between monetary analysis and growth modelling in open economies. Structural change, innovations and growth are considered from a new perspective. With respect to economic policy - in particular innovation policy - the analysis implies major changes, concerning both EU countries and other leading OECD economies.

Firm and Technology Dynamics in the Short- and Long-run

Firm and Technology Dynamics in the Short- and Long-run PDF

Author:

Publisher:

Published: 2020

Total Pages:

ISBN-13: 9789276192848

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We develop a dynamic stochastic general equilibrium model with firm and technology dynamics to assess the impact of a rich set of innovation policies. We explore the aggregate and cross-sectional effects of an R&D tax credit, corporate taxes, and policies affecting firms' access to credit. Two main results emerge. First, the aggregate impact of these policies is driven by general equilibrium effects operating via the government budget, the labor market and via equilibrium entry of firms. In contrast, their stimulating effect on innovation and productivity growth has a negligible impact on aggregate income and employment. Second, we find that uniform policies have heterogeneous effects on firms and their size distribution which generate rich feedbacks to the aggregate economy.

Interneteconomics.net

Interneteconomics.net PDF

Author: Paul J.J. Welfens

Publisher: Springer Science & Business Media

Published: 2012-11-15

Total Pages: 225

ISBN-13: 3540247629

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Deregulation, privatization and internationalization of the telecommunications industry has brought about enormous changes within both the European and world economy. The dynamics of the Internet and the recent wave of innovations in the telecommunications and computer industry have given rise to new opportunities for entrepreneurship, employment and growth. No doubt, the dynamics and imperfections of today`s information markets raise crucial challenges for Western Europe. The changing patterns of innovation in the digital economy have forced governments to consider new strategies to promote innovation, network effects and growth. In response to these developments this text presents new approaches to macroeconomic modelling, growth theory and trade analysis. Still further, the deregulation policies of OECD-countries are analyzed. An indispensible text for academics and professionals who want to deepen their knowledge of how the New Economy revolution continues to change the economy.

Innovations in Macroeconomics

Innovations in Macroeconomics PDF

Author: Paul J.J. Welfens

Publisher: Springer

Published: 2014-10-02

Total Pages: 0

ISBN-13: 9783642442056

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Modern macroeconomics suffers from an unclear link between short-term Keynesian analysis and long-term growth modelling. This book presents a new link between monetary analysis and growth modelling in open economies. Structural change, innovations and growth are considered from a new perspective. With respect to economic policy - in particular innovation policy - the analysis implies major changes, concerning both EU countries and other leading OECD economies.

Macroeconomic Modelling of R & D and Innovation Policies

Macroeconomic Modelling of R & D and Innovation Policies PDF

Author:

Publisher:

Published: 2014

Total Pages: 28

ISBN-13: 9789279452451

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The paper presents a spatial computable general equilibrium (SCGE) approach to policy impact assessment which is useful for capturing knowledge spillovers and spatial interactions between regions. First, the relationship between regional productivity and R & D expenditures is estimated econometrically by applying the catching-up framework of technology diffusion of Benhabib and Spiegel (2005) to EU regions. Second, the SCGE model RHOMOLO is combined with the dynamic stochastic general equilibrium (DSGE) model QUEST to simulate and assess the impact of research and innovation funding allocated by the 2014-2020 EU Cohesion Policy. Our simulation results suggest that in the short run the benefits of R & D policies are concentrated in the less developed regions. In the long run, however, the benefits spread throughout the EU, favouring also the more developed regions. In light of the empirical results, the paper identifies strengths and limitations of the adopted approach, and the advantages of aligning a spatially and sectorally disaggregated SCGE framework with the inter-temporal dynamics of DSGE models.

Risk Topography

Risk Topography PDF

Author: Markus Brunnermeier

Publisher: University of Chicago Press

Published: 2014-10-17

Total Pages: 286

ISBN-13: 022609264X

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The recent financial crisis and the difficulty of using mainstream macroeconomic models to accurately monitor and assess systemic risk have stimulated new analyses of how we measure economic activity and the development of more sophisticated models in which the financial sector plays a greater role. Markus Brunnermeier and Arvind Krishnamurthy have assembled contributions from leading academic researchers, central bankers, and other financial-market experts to explore the possibilities for advancing macroeconomic modeling in order to achieve more accurate economic measurement. Essays in this volume focus on the development of models capable of highlighting the vulnerabilities that leave the economy susceptible to adverse feedback loops and liquidity spirals. While these types of vulnerabilities have often been identified, they have not been consistently measured. In a financial world of increasing complexity and uncertainty, this volume is an invaluable resource for policymakers working to improve current measurement systems and for academics concerned with conceptualizing effective measurement.

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