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Mr. Yasser Abdih and Mr. Frederick L Joutz

describes the evolution of knowledge creation. According to that function, the rate of production of new knowledge depends on the amount of labor engaged in R&D and the existing stock of knowledge available to these researchers. A crucial debate framed by the work of Romer (1990) and Jones (1995a) (within the R&D-based growth literature) is centered on the functional form of the knowledge production function. Specifically, the debate is centered on how strongly the flow of new knowledge depends on the existing stock of knowledge. Intuitively, the dependence of new

Mr. Frederick L Joutz and Mr. Yasser Abdih
The knowledge production function is central to R&D-based growth models. This paper empirically investigates the knowledge production function and intertemporal spillover effects using cointegration techniques. Time-series evidence suggests there are two long-run cointegrating relationships. The first captures a long-run knowledge production function; the second captures a long-run positive relationship between TFP and the knowledge stock. The results indicate the presence of strong intertemporal knowledge spillovers and that the long-run impact of the knowledge stock on TFP is small. This evidence is interpreted in light of existing theoretical and empirical evidence on endogenous growth.
Mr. Frederick L Joutz and Mr. Yasser Abdih

describes the evolution of knowledge creation. According to that function, the rate of production of new knowledge depends on the amount of labor engaged in R&D and the existing stock of knowledge available to these researchers. A crucial debate framed by Romer and Jones’s work (within the R&D-based growth literature) is centered on the functional form of the knowledge production function. Specifically, the debate is centered on how strongly the flow of new knowledge depends on the existing stock of knowledge. Intuitively, the dependence of new knowledge on the existing

Ruchir Agarwal and Patrick Gaulé

Prize Problems “will excite and inspire future generations of mathematicians and non-mathematicians alike...[w]e are convinced that the resolution of these prize problems will open up a new world of mathematics which as yet we cannot even imagine.” In scientific fields there is an important open question about how to motivate future generations to engage in knowledge production, and to possibly advance the knowledge frontier in the process. Philanthropists and governments have tried to promote innovation through rewarding research outputs (‘pull’ incentives) or

Ruchir Agarwal and Patrick Gaulé
The advancement of the knowledge frontier is crucial for technological innovation and human progress. Using novel data from the setting of mathematics, this paper establishes two results. First, we document that individuals who demonstrate exceptional talent in their teenage years have an irreplaceable ability to create new ideas over their lifetime, suggesting that talent is a central ingredient in the production of knowledge. Second, such talented individuals born in low- or middle-income countries are systematically less likely to become knowledge producers. Our findings suggest that policies to encourage exceptionally-talented youth to pursue scientific careers—especially those from lower income countries—could accelerate the advancement of the knowledge frontier.
Ruchir Agarwal, Patrick Gaulé, and Geoff Smith

.S. may adversely impact scientific activity. While studies have examined the potential adverse impact of restrictive U.S. immigration policies on U.S . competitiveness in science and innovation (e.g. Lowe 2020 ), there has been less focus on understanding how U.S. immigration barriers may in turn impact scientific activity globally. In this context, this paper studies the impact of U.S. immigration barriers on global knowledge production, and examines which policy actions are more likely to help advance the global knowledge frontier. The quantitative impact of

Ruchir Agarwal, Patrick Gaulé, and Geoff Smith
This paper studies the impact of U.S. immigration barriers on global knowledge production. We present four key findings. First, among Nobel Prize winners and Fields Medalists, migrants to the U.S. play a central role in the global knowledge network—representing 20-33% of the frontier knowledge producers. Second, using novel survey data and hand-curated life-histories of International Math Olympiad (IMO) medalists, we show that migrants to the U.S. are up to six times more productive than migrants to other countries—even after accounting for talent during one’s teenage years. Third, financing costs are a key factor preventing foreign talent from migrating abroad to pursue their dream careers, particularly for talent from developing countries. Fourth, certain ‘push’ incentives that reduce immigration barriers—by addressing financing constraints for top foreign talent—could increase the global scientific output of future cohorts by 42 percent. We concludeby discussing policy options for the U.S. and the global scientific community.