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HomeMoving the frontier of macroeconomic modelling of research and innovation policy
Moving the frontier of macroeconomic modelling of research and innovation policy
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The aim of the report is double. First, it aims to identify those characteristics and properties of research and innovation (R&I) that should ideally be included in macro-models, i.e., those that would help to understand the behaviour of innovation and to produce sound evaluations of R&I policies The critical properties and policies of the R&I process may affect the incentives on doing research and development (R&D) and the probability of innovating, how much is or ought to be spent on R&I and the effects of R&I investments on various measures of economic performance and other dimensions of relevance for policy makers, like environmental and socio-economic sustainability. For each of these properties and policies, the report aims at explaining why it would be worth to include them in the modelling, what effects their inclusion is expected to have on the performance of the model and the scope for R&I policy evaluation. The report will also discuss what is required in order to include these properties and policies in the modelling, both in terms of model design and empirical implementation. Second, it aims at identifying the main R&I policies used in practice, those that macro-models need to include in order to produce well-founded assessments. The report closes with some conclusions and recommendations on how to move forward the medium-long term agenda on the development and use of macroeconomic models to inform and advise research and innovation policy making.
- Published:
- Corporate author(s): Directorate-General for Research and Innovation (European Commission)
- Personal author(s): Annicchiarico, Barbara ; Licandro, Omar ; Mohnen, Pierre ; Ortega, Eva ; Veugelers, Reinhilde
- Themes: Scientific and technical research
- Subject: economic model , innovation , investment , macroeconomics , policymaking , report , research and development , sustainable development
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| ISSN | ISBN 978-92-76-20910-2 | DOI 10.2777/34199 | Catalogue number KI-03-20-515-EN-N |
- Released on EU Publications:
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