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Demand-Pull, Technology-Push, and the Sectoral Direction of Innovation

Author

Listed:
  • Diego Comin

    (Dartmouth College)

  • Daniel Lashkari

    (Harvard U.)

  • Marti Mestieri

    (Northwestern University)

Abstract

We develop a multi-sectoral endogenous growth model in which the direction of innovation across sectors is endogenous. Thus, our model provides a theoretical framework to think about the classical demand-pull versus technology-push drivers of innovation in a general equilibrium framework. A robust prediction that emerges from our analysis is that innovation growth should be higher in more income-elastic sectors. We test this prediction using the universe of U.S. patents for the period 1976-2007. We find empirical support for this prediction. Preliminary analysis of firm R&D expenditures from the U.S. census also confirm this prediction.

Suggested Citation

  • Diego Comin & Daniel Lashkari & Marti Mestieri, 2016. "Demand-Pull, Technology-Push, and the Sectoral Direction of Innovation," 2016 Meeting Papers 1287, Society for Economic Dynamics.
    • Handle: RePEc:red:sed016:1287
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    Cited by:

    1. Diego Comin & Ana Danieli & Martí Mestieri, 2020. "Income-Driven Labor-Market Polarization," Working Paper Series WP-2020-22, Federal Reserve Bank of Chicago.

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