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Structural Transformation of Innovation

Author

Listed:
  • Diego Comin

    (Dartmouth College)

  • Danial Lashkari

    (Boston College)

  • Marti Mestieri

    (Northwestern University)

Abstract

We develop a multi-sector endogenous growth model in which the direc- tion of innovation across sectors is endogenous. The model provides a the- oretical general equilibrium framework for studying the classical demand- pull and technology-push drivers of innovation. A robust prediction is that the rate of growth innovation growth is asymptotically higher in more income-elastic sectors. We test this prediction using the universe of U.S. patents and firm R&D investments for the period 1976-2007. The analysis lends empirical support for the main predictions of the model.

Suggested Citation

  • Diego Comin & Danial Lashkari & Marti Mestieri, 2019. "Structural Transformation of Innovation," 2019 Meeting Papers 1394, Society for Economic Dynamics.
  • Handle: RePEc:red:sed019:1394
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