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We review and interpret recent work on inventories, emphasizing empirical and business cycle aspects. We begin by documenting two empirical regularities about inventories. The first is the well-known one that inventories move procyclically. The second is that inventory movements are quite...
Persistent link: https://www.econbiz.de/10013210702
The pace of innovation is related both to the level of investment in innovation and the pool of knowledge from which … and design of IPR affects the extent to which any innovation adds to or subtracts from the pool of ideas that are … lead to a lower pace of innovation, and more generally, that long run effects may be the opposite of the short run effects …
Persistent link: https://www.econbiz.de/10013056191
We use a detailed micro dataset on product availability to construct a direct high-frequency measure of consumer product shortages during the 2020–2021 pandemic. We document a widespread multi-fold rise in shortages in nearly all sectors early in the pandemic. Over time, the composition of...
Persistent link: https://www.econbiz.de/10013213359
We show that sticky prices exacerbate household hoarding of storable goods. When stores are slow to adjust prices following a cost shock, households have an incentive to stockpile just as in a typical retail sale. This incentive is present even in the absence of traditional panic or...
Persistent link: https://www.econbiz.de/10013313019
principal's energies. The principal can conserve her energies by tightly controlling the innovation process, but this may …
Persistent link: https://www.econbiz.de/10013224920
knowledge acquisition (A), implementing written knowledge management rules (W). The French 1998-2000 Community Innovation Survey …
Persistent link: https://www.econbiz.de/10013222659
If scientific knowledge is a public good, why do firms invest in research? This paper revisits this classic question with new data on patent citations to scientific publications by corporations. Using data on 4,736 firms for the period 1980-2006, we document that corporate investment in research...
Persistent link: https://www.econbiz.de/10012962713
linked fields. Our analysis uses 1.8 million U.S. patents and their citation properties to map the innovation network and its … strength. Past innovation network structures are calculated using citation patterns across technology classes during 1975 … predictive power on future innovation after 1995. This pattern is consistent with the idea that when there is more past upstream …
Persistent link: https://www.econbiz.de/10012980187
We study how competition between two downstream firms affects an upstream innovator's innovation strategy, which … includes selecting how much innovation to produce and whether to license this innovation to one (targeted licensing) or both … upstream innovation: at low levels of competition, market-wide licensing is optimal and competition reduces innovation, while …
Persistent link: https://www.econbiz.de/10012909132
How does firm entry affect innovation incentives and productivity growth in incumbent firms? Micro-data suggests that … threat spurs innovation incentives in sectors close to the technological frontier--successful innovation allows incumbents to … prevent entry. In laggard sectors it discourages innovation--increased entry threat reduces incumbents' expected rents from …
Persistent link: https://www.econbiz.de/10013228275