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Open Access 2022 | Open Access | Buch

Buchtitelbild

Macroeconomic Modelling of R&D and Innovation Policies

herausgegeben von: Prof. Ufuk Akcigit, Cristiana Benedetti Fasil, Prof. Giammario Impullitti, Prof. Omar Licandro, Miguel Sanchez-Martinez

Verlag: Springer International Publishing

Buchreihe : International Economic Association Series

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Technik" , Springer Professional "Wirtschaft"

Inhaltsverzeichnis
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SUCHEN

Über dieses Buch

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.

Inhaltsverzeichnis

Frontmatter
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Open Access

Chapter 1. Introduction
Abstract
Innovation and its link with economic growth in advanced economies has taken centre stage in recent decades in the economic policy landscape, while it has simultaneously been one of the fastest growing research fields in economics. This chapter provides a brief overview of salient examples that speak to the importance of this topic in both the policy and academic arenas.
Cristiana Benedetti Fasil, Miguel Sanchez-Martinez
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Macroeconomic Modelling of Innovation Policy: State-Of-The-Art

Frontmatter

Open Access

Chapter 2. Innovation, Public Policy and Growth: What the Data Say
Abstract
Innovation and technological progress are the key determinants of long-run economic growth and welfare. Therefore, an important question is, how can public policy encourage more innovation? In this chapter, I review some of the empirical findings from various recent studies on innovation and firm dynamics that can shed light on the design of innovation policy. The discussion in the chapter is divided into three categories: (i) firm studies, (ii) inventor studies, and (iii) idea (patent) studies.
Ufuk Akcigit
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Open Access

Chapter 3. Innovation and Growth: Theory
Abstract
This survey reviews the literature on firm dynamics, innovation and growth aiming to better understand the main channels through which innovation affects the performance of modern economies. Since innovations fundamentally diffuse through a complex process of firm and product creation and destruction, this survey concentrates on the recent literature on firm dynamics and innovation.
Omar Licandro
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Open Access

Chapter 4. The Frontier of Macroeconomic Modelling: Proceedings of the JRC-IEA Workshop 2017
Abstract
This chapter discusses the Proceedings of the JRC-IEA Roundtable, which objective was to promote a technical debate on the recent developments of DSGE and alternative modelling strategies, the main mechanisms at play and their effectiveness in assessing the impact of R&D and innovation policies. Leading academics presented state-of-the-art macroeconomic models in the area of economic growth and innovation. It follows a debate between academics and practitioners trying to figure out the key elements of a macro model designed to evaluate innovation policies should include.
Omar Licandro
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Impact Assessment of Innovation Policies: Models and Examples for the European Union

Open Access

Chapter 5. The RHOMOLO Spatial CGE Model
Abstract
This chapter provides a description of the RHOMOLO model, a Spatial CGE model, developed and used by the European Commission for the impact assessment of policies at the regional level. Special emphasis is put on the innovation mechanisms underlying the model. Moreover, it discusses the scenarios simulated and the findings from the economic impact assessment of the Horizon Europe Framework Program.
Martin Aarøe Christensen
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Open Access

Chapter 6. The QUEST III R&D Model
Abstract
This chapter provides a description of the QUEST III model, with a special emphasis on its innovation mechanisms, and offers an example of its application to the analysis of the impact of innovation policies in the EU. In particular, the results of the simulations of an ex-ante impact assessment of Horizon Europe Framework Programme 2021–2027 are presented and discussed.
Werner Roeger, Janos Varga, Jan in’t Veld
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Open Access

Chapter 7. The NEMESIS Macro-Econometric Model
Abstract
This Chapter presents the NEMESIS macro-econometric model. This model has been used for several ex-ante and ex-post evaluations of the macroeconomic impact of EU R&I policies. After a general overview of the model, a thorough description of the representation of innovation in the model is provided. As an example of its workings, an application to the interim evaluation of the Horizon 2020 programme is also provided.
Baptiste Boitier, Pierre Le Mouël, Julien Ravet, Paul Zagamé
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Open Access

Chapter 8. Taking Stock
Abstract
This Chapter presents the EU policy context that underlies the need for macroeconomic modelling for the conduct of impact evaluations of R&I funding programmes and provides a critical summary and comparison of the different ex-ante macroeconomic impact assessments of the Horizon Europe Framework Programme 2021-2027 presented in the previous three chapters. In particular, it focuses on the results obtained with the three different modelling approaches apdopted, and links them to the dissimilar properties of each of these models.
Cristiana Benedetti Fasil, Miguel Sanchez-Martinez, Julien Ravet
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Open Access

Chapter 9. Other Innovation Policies and Alternative Modelling Approaches
Abstract
This chapter discusses the macroeconomic impact evaluation of other policies related to innovation. In particular, two examples are shown on the impact simulation of a reduction to firms’ entry barriers and an increase in R&D tax credits. Alternative ways of modelling these two types of policy shocks are also provided to illustrate how different modelling platforms featuring different economic mechanisms can complement each other and enrich the landscape of macroeconomic policy impact assessments.
Cristiana Benedetti Fasil, Giammario Impullitti, Miguel Sanchez-Martinez
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Backmatter
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Metadaten
Titel
Macroeconomic Modelling of R&D and Innovation Policies
herausgegeben von
Prof. Ufuk Akcigit
Cristiana Benedetti Fasil
Prof. Giammario Impullitti
Prof. Omar Licandro
Miguel Sanchez-Martinez
Copyright-Jahr
2022
Electronic ISBN
978-3-030-71457-4
Print ISBN
978-3-030-71456-7
DOI
https://doi.org/10.1007/978-3-030-71457-4

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