We model early expectations about the value and technological importance ('quality') of a patented innovation as a …

relating to patenting, robust conclusions regarding the empirical consequences for technological innovation of changes in …

fertility of an innovation in generating more innovations cannot be observed. The menu of patent scope can be implemented with …

the israeli economy in the nineties and beyond. In this paper we present a close-up portrait of innovation in Israel for …

anecdotal. This paper provides direct quantitative evidence showing that how innovation and design work was done changed … fundamentally during the Industrial Revolution. This change was characterized by the professionalization of innovation and design …

and production of financial innovation. We use machine learning to identify the financial patents and extensively audit … the results to ensure their reasonableness. We find that patented financial innovation is substantial and economically … financial sector, which collectively accounted for 69% of the awards. The location of innovation has shifted, with banks moving …

, and reallocation of capital. This finding applies mainly for obsolescence of core innovation and embodied innovation, and … profits of obsolescent firms. The measure contains incremental information about firm innovation relative to measures focusing … on new innovation …

We study the optimal allocation of R&D resources in an endogenous growth model with an innovation network, through … more R&D toward key sectors that are upstream in the innovation network. Second, we extend to an open-economy setting and … spillovers has less incentive to direct resources toward innovation-upstream sectors, leading to cross-country differences in …