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We develop measures of labor-saving and labor-augmenting technology exposure using textual analysis of patents and job tasks. Using US administrative data, we show that both measures negatively predict earnings growth of individual incumbent workers. While labor-saving technologies predict...
Persistent link: https://www.econbiz.de/10014436977
Investment fund managers make asset allocation decisions on behalf of a significant segment of US households. To elucidate the incentives they operate under, as well as the income and career risks they face, we construct a unique and novel dataset, which encompasses detailed information on the...
Persistent link: https://www.econbiz.de/10014447307
The rate of regional growth of new knowledge in the field of nanotechnology, as measured by counts of articles and … stocks of recorded knowledge in all scientific fields, and the extent to which tacit knowledge in all fields flows between … patenting. The data provide further support for the cumulative advantage model of knowledge production, and for ongoing efforts …
Persistent link: https://www.econbiz.de/10012465992
Commercializing knowledge involves transfer from discovering scientists to those who will develop it commercially. New … opportunities if high. Hence new knowledge remains naturally excludable and appropriable. Team production allows more knowledge … capture of tacit, complex discoveries by firm scientists. A robust indicator of a firm's tacit knowledge capture (and strong …
Persistent link: https://www.econbiz.de/10012470219
relating to patenting, robust conclusions regarding the empirical consequences for technological innovation of changes in …
Persistent link: https://www.econbiz.de/10012471503
development of new energy technologies (Popp, 2017). Energy innovation tends to consist of a series of partially overlapping … processes involving: (1) the production of scientific and technological knowledge, (2) the translation of that knowledge into …--that is, the translation of scientific knowledge into working prototypes. Our results show that "clean" energy technologies …
Persistent link: https://www.econbiz.de/10012481080
The 'quality' of novel technological innovations is extremely variable, and the ability to measure innovation quality … is essential to sensible, evidence-based policy. Patents, an often vital precursor to a commercialised innovation, share …
Persistent link: https://www.econbiz.de/10012481150
of creative destruction, we draw a distinction between technological innovation advanced by the firm, or its competitors …. Using administrative data from the United States, we find that own firm innovation is associated with a modest increase in … worker earnings growth, while innovation by competing firms is related to lower future worker earnings. Importantly, these …
Persistent link: https://www.econbiz.de/10012481921
innovation in a socially desirable substitute. Evolutionary theory emphasizes the possibility of innovation waves associated with … products. It does appear, however, that dominant designs did have substantial positive innovation effects. More specifically … innovation effects at the firm level than among individual inventors …
Persistent link: https://www.econbiz.de/10012462114
We study asset-pricing implications of innovation in a general-equilibrium overlapping-generations economy. Innovation … capital of older workers. Due to the lack of inter-generational risk sharing, innovation creates a systematic risk factor …
Persistent link: https://www.econbiz.de/10012463192