Romer, the Nobel Prize Winner Who Integrated Innovation into Economic Models
RESEARCH |

Romer, the Nobel Prize Winner Who Integrated Innovation into Economic Models

THE VIDEO COMMENTARY BY GUIDO TABELLINI, ECONOMIST AT BOCCONI UNIVERSITY

The merit of Paul Romer, former chief economist at the World Bank and Professor of Economics at the Stern School of Business at New York University, is the formalization of the role that innovation plays in economic growth. «Before him», explains Guido Tabellini, Professor of Economics at Bocconi, in this video, «in macroeconomic models technological progress was seen as an external force, Romer made it clear how to incorporate technical progress and the accumulation of knowledge in economic models». (CLICK HERE to see the video)
 
«And he did so by formalizing a simple intuition: that the most important and challenging phase of innovation is the conception of the idea, while its application is not expensive. This is what happens in the development of an operating system: difficult and expensive to conceive, but simple and not expensive to replicate on a multitude of computers».
 


by Fabio Todesco

Latest Articles Research

Go to archive
  • Social Investors. How to Measure Their Impact

    Changing the system of social investment is the watchword emerging from a survey conducted by Bocconi CERGAS on 339 philanthropists. Conversely, few interviewees referred to the concept of sustainability

  • Fondazione Agnelli Supports Bocconi Research that Affects Business

    The Avvocato Giovanni Agnelli Associate Professorship in Economics has been assigned to Francesco Decarolis, a scholar who analyzes how markets work and designs innovative solutions to promote competition and social welfare

  • Making Companies and Human Resources Agile

    Originating in the IT sector, the Agile approach is aimed at achieving value and performance for customers. The human resources corporate function is crucial for its implementation, but Italian companies still lack enough experience dealing with it

Events

Mon Tue Wed Thu Fri Sat Sun
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31