Innovation Policy and the Economy, 2018: Volume 19 (Volume 19) (National Bureau of Economic Research Innovation Policy and the Economy) - Hardcover

9780226645247: Innovation Policy and the Economy, 2018: Volume 19 (Volume 19) (National Bureau of Economic Research Innovation Policy and the Economy)

Hardcover

ISBN 10: 022664524X ISBN 13: 9780226645247

Publisher: University of Chicago Press Journals, 2019

This volume highlights the interaction between public policy and innovation. The first chapter documents the dramatic globalization of R&D and how this development has affected the efforts of U.S. multinationals to operate on the global technology frontier. The next chapter synthesizes research on the impact of trade shocks on innovation and explains how these shocks’ effects depend on the firms, industries, and countries affected. The third chapter examines the Advanced Research Projects Agency (ARPA) model of research management—an approach to funding and managing high-risk R&D—and offers a method for diagnosing which research efforts are “ARPA-able.” Next is a study of the Orphan Drug Act and the key changes in the U.S. healthcare landscape and in drug discovery and development since its passage in 1983. The next two chapters focus on artificial intelligence (AI). One describes how AI diffuses through the economy and discusses implications for economic inequality, antitrust, and intellectual property. The other investigates issues surrounding firm competition and labor force participation, such as data portability and a Universal Basic Income, and evaluates ways to address these issues.

"synopsis" may belong to another edition of this title.

About the Author:

Scott Stern is the School of Management Distinguished Professor of Technological Innovation, Entrepreneurship, and Strategic Management at the Massachusetts Institute of Technology Sloan School of Management and a research associate and director of the Innovation Policy Working Group at the NBER.

"About this title" may belong to another edition of this title.