Showing 1 - 10 of 355
We develop a unique dataset of 24 thousand U.S. finance patents granted over last two decades to explore the evolution … and production of financial innovation. We use machine learning to identify the financial patents and extensively audit … matter of financial patents has changed, consistent with the industry's shift in revenue and value-added towards household …
Persistent link: https://www.econbiz.de/10012599270
financial patents at the US Patent and Trademark Office, and to have also impacted other patent offices around the world. A … number of scholars, both legal and economic, have critiqued both the quality of these patents and the decisions themselves …. This paper reviews the history of business method and financial patents briefly and then explores what economists know …
Persistent link: https://www.econbiz.de/10012463780
This paper examines the litigation of patents relating to financial products and services. I show that these grants are … being litigated at a rate 27 to 39 times greater than that of patents as a whole. The patents being litigated are …
Persistent link: https://www.econbiz.de/10012464324
decision that greatly accelerated the rate of financial patenting. I conclude by exploring how the origins of financial patents …
Persistent link: https://www.econbiz.de/10012468471
This paper presents an empirical test of the proposition that control of a monetary aggregate will generate a rise in its velocity.The test is carried out utilizing the Canadian experience of controlling Ml growth from 1975:3 to 1982:3. Section One of the paper presents evidence of the...
Persistent link: https://www.econbiz.de/10012477944
This paper is organized as follows: The first part of the paper introduces the topic. In the next part, we explore the inadequacies of conventional and equity-based variable annuities in an inflationary environment by contrasting them with a hypothetical PPA. We then try to assess the...
Persistent link: https://www.econbiz.de/10012478703
The rise of Target Date Funds (TDFs) has moved a significant share of retail investors into contrarian trading strategies that rebalance between stocks and bonds so as to maintain age-appropriate portfolio shares. We show that i) TDFs actively rebalance within a few months following differential...
Persistent link: https://www.econbiz.de/10012482247
Financial innovation has been both praised as the engine of growth of society and castigated for being the source of the weakness of the economy. In this paper, we review the literature on financial innovation and highlight the similarities and differences between financial innovation and other...
Persistent link: https://www.econbiz.de/10012461877
For over three centuries and throughout the globe, people have enthusiastically bought savings products that incorporate lottery elements. In lieu of paying traditional interest to all investors proportional to their balances, these Prize Linked Savings (PLS) accounts distribute periodic...
Persistent link: https://www.econbiz.de/10012462223
We present a standard model of financial innovation, in which intermediaries engineer securities with cash flows that investors seek, but modify two assumptions. First, investors (and possibly intermediaries) neglect certain unlikely risks. Second, investors demand securities with safe cash...
Persistent link: https://www.econbiz.de/10012462586