America's most innovative firms participate in the U.S. Commerce Department's Advanced Technology Program (ATP) those that participated at least once accounted for over 40 percent of U.S. patents to U.S. entities during 1988-1996. Many firms are repeat participants. ATP participation has...

Scientist-entrepreneurs prominent in biotech and other high-technology industries view going public not as a cost-effective source of capital but as a cross between selling a now-proven innovation and winning a lottery. Unlike most empirical IPO analyses confined to those firms that go public,...

The basic competitive model with freely available technology is suited for static industries but misleading as applied to major innovative economies for which development of new technologies equals in magnitude around 10% of gross domestic investment. We distinguish free generic technology from...

Over the last decade dealing in derivative financial instruments (basically forwards, futures, options and combinations of these), particularly in the over-the-counter (OTC) derivatives market has become a central activity for major wholesale banks and financial institutions. Measured in terms...

The transformation of American banking from the parochialism of 1960to the internationally linked structure of the 1980s is analyzed anddetailed quantitatively. While the liberalization of trade and theexistence of and changes in financial regulations profoundly affected thepace and order of...

Research on intellectual property has focused on formal legally recorded rights that we call deeded, most often measured by granted patents. Meanwhile, other "defacto" IP (mainly purposive secrecy and natural excludability) has become more important because of the increasing closeness of...

Data availability is arguably the greatest impediment to advancing the science of science and innovation policy and practice (SciSIPP). This paper describes the contents, methodology and use of the public online COMETS (Connecting Outcome Measures in Entrepreneurship Technology and Science)...

This paper identifies three major periods: 1900-1929, 1929-1965, and 1965-1978. In contrast to the middle period, the extreme periods are characterized by rapid growth in private employment and hours worked; because growth in private productivity increases by less, measured labor productivity...

This paper presents a summary and estimates of the Mark III International Transmission Model, a quarterly macroeconometric model of the United States, United Kingdom, Canada, France, Germany, Italy, Japan, and the Netherlands estimated for 1957 through 1976. The model is formulated to test and...

Contrary to the conclusion of Sargent and Wallace, it is possible to exogenously and independently vary monetary and fiscal policy and retain steady-state equlibrium in economies like the United States. In particular,the central bank is not forced to monetize increased deficits either now or in...