Innovation Policy and the Economy (IPE)

Josh Lerner and Scott Stern, Directors

The past few years have seen an increasing appreciation of the importance of innovation to the economy. The importance of innovation can be seen, for instance, in the way the technology sector led the economy into boom and then bust, the number of patent filings by U.S. corporations, or the coverage of new innovations in the business press. At the same time, there is active debate regarding the implications of rapid technological change for economic policy, and the appropriate policies and programs regarding research, innovation, and the commercialization of new technology. These debates encompass long-standing issues, such as the appropriate level and form of public support of research, the gap between publicly-funded research and technology commercialization, and the effect of health and safety regulation on innovation. There are also newer issues, such as the evolving role of intellectual property and the appropriate antitrust treatment of software and other industries where technology standards play a key role, and the relationship between innovation and entrepreneurship.

The Innovation Policy and the Economy (IPE) Group at the National Bureau of Economic Research seeks to foster research by economists and other social scientists on the interactions between public policy and the innovation process, and to provide communication mechanisms between researchers and the policy community. Interactions between and among researchers and people working in government, business, and non-profit organizations can improve the timeliness, policy-relevance and focus of academic research, while easier access to the findings of policy-oriented research can improve public policy decision-making. In keeping with the general NBER traditions, the activities address many policy issues and provide useful information without making policy recommendations.



The Innovation Policy and the Economy Group has been supported by a generous grant from the Kauffman Foundation.

Working Papers by NBER Working Group - IPE