(Spatial) panel data are routinely modelled in discrete time (DT). However, there are compelling arguments for continuous time (CT) modelling of (spatial) panel data. Particularly, most social processes evolve in CT, so that statistical analysis in DT is an oversimplification, gives an...

This paper analyzes the interstate distribution of awards made through the Small Business Innovation Research (SBIR) Program operated by the U.S federal government. The main finding is that awards tend to be made to firms in centers of innovative activity, where knowledge is most easily created...