These days, everybody is talking about the losers of globalization and how they made Trump and Brexit happen. People in industrialized countries lose their jobs due to offshoring and international competition, which leads them to vote for right-wing populists, so the common narrative goes. That might not be the full story though. Continue reading Innovation,unemployment and subjective well-being
Raj Chetty is a rising star in economics. After graduating from Harvard at the age of 23, he became an assistant professor at Berkeley, where he got tenure only four years later. Since then he won the John Bates Clark Medal in 2013 and moved to Stanford in 2015. His latest research is concerned with the question of upward mobility in society and how it affects innovation and economic growth. Continue reading How important is social mobility for innovation and growth?
Last week I had the chance to attend a fantastic conference organized by the Innovation Growth Lab in London on the use of randomized control trials (RCT) in innovation policy evaluation. Field experiments to assess whether certain policies work are already very popular in fields such as development economics. But surprisingly little has been done in OECD countries to this day. Continue reading Does Innovation Policy Really Work?
In my institute we’re conducting the German part of the Community Innnovation Survey–a pan-European survey about the R&D activities of firms. This week the final report for the 2015 survey wave got published with data for 2012 until 2014. It shows that not much has changed in 2014 compared to 2013. In total, German firms spent 145 billion euro on reserach and innovation activities. Continue reading Recent innovation trends in the German economy
Philippe Aghion and Ufuk Akcigit have a brand-new draft of a survey* about innovation and growth from a Schumpeterian perspective which they will present on a conference in Brussels next week. It does not differ much from already existing reviews of Schumpeterian growth models. But at the end they add a section on policy advice for Europe which is an interesting read. Continue reading Aghion’s new Growth Pact for Europe