BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Growth Lab - ECPv6.18.2//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-CALNAME:Growth Lab
X-ORIGINAL-URL:https://growthlab.hks.harvard.edu
X-WR-CALDESC:Events for Growth Lab
REFRESH-INTERVAL;VALUE=DURATION:PT1H
X-Robots-Tag:noindex
X-PUBLISHED-TTL:PT1H
BEGIN:VTIMEZONE
TZID:America/New_York
BEGIN:DAYLIGHT
TZOFFSETFROM:-0500
TZOFFSETTO:-0400
TZNAME:EDT
DTSTART:20210314T070000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:-0400
TZOFFSETTO:-0500
TZNAME:EST
DTSTART:20211107T060000
END:STANDARD
BEGIN:DAYLIGHT
TZOFFSETFROM:-0500
TZOFFSETTO:-0400
TZNAME:EDT
DTSTART:20220313T070000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:-0400
TZOFFSETTO:-0500
TZNAME:EST
DTSTART:20221106T060000
END:STANDARD
BEGIN:DAYLIGHT
TZOFFSETFROM:-0500
TZOFFSETTO:-0400
TZNAME:EDT
DTSTART:20230312T070000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:-0400
TZOFFSETTO:-0500
TZNAME:EST
DTSTART:20231105T060000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;TZID=America/New_York:20220131T111500
DTEND;TZID=America/New_York:20220131T123000
DTSTAMP:20250910T003900Z
CREATED:20220122T023700Z
LAST-MODIFIED:20250910T003900Z
UID:15019-1643627700-1643632200@growthlab.hks.harvard.edu
SUMMARY:Research Seminar: Innovation Networks and Innovation Policy
DESCRIPTION:Speaker: Ernest Liu\, Assistant Professor of Economics at the Bendheim Center for Finance in Princeton’s Department of Economics 	Paper: Innovation Networks and Innovation Policy 	Abstract: We study the optimal allocation of R&D resources in an endogenous growth model with an innovation network\, through which one sector’s past innovations may benefit other sectors’ future innovations. First\, we provide closed-form sufficient statistics for the optimal path of R&D resource allocation\, and we show that planners valuing long-term growth should allocate more R&D toward key sectors that are upstream in the innovation network. Second\, we extend to an open-economy setting and illustrate an incentive for countries to free-ride on fundamental technologies: an economy more reliant on foreign knowledge spillovers has less incentive to direct resources toward innovation-upstream sectors\, leading to cross-country differences in unilaterally optimal R&D allocations across sectors. Third\, we build the global innovation network based on over 30 million global patents and establish its empirical importance for knowledge spillovers. Fourth\, we apply the model to evaluate R&D allocations across countries and time. Adopting optimal R&D allocations can generate substantial welfare improvements across the globe. For the United States\, R&D misallocation accounts for about 0.68 percentage points of missing annual growth since the 2000s. 	Please register in advance and contact Chuck McKenney with any questions.  	 
URL:https://growthlab.hks.harvard.edu/event/research-seminar-innovation-networks-and-innovation-policy/
LOCATION:Zoom (registration information below)
CATEGORIES:Academic Research Seminars
END:VEVENT
END:VCALENDAR