million patents granted during 1920-2010. This novel textual analysis empirically reveals which single and general purpose … research by comparing patents that mention these research inputs early against the value of other patents. For this comparison …

innovation. Large firms appear to value the golden eggs of science (as reflected in patents) but not the golden goose itself (the …Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research … to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations …

This paper surveys the major changes in patent policy and practice that have occurred in the last two decades in the U … effects of changes in patent policy. Despite the significance of the policy changes and the wide availability of detailed data … relating to patenting, robust conclusions regarding the empirical consequences for technological innovation of changes in …

paper, we address this question by investigating how innovation responses to a substantial policy initiative increasing … product market competition interact with the strength of patent rights. We provide empirical evidence of innovation responding … with step-by-step innovation models predicting that product market competition enhances innovation and, more importantly …

account for around 15% of European technology upgrading between 2000-2007. Rising Chinese import competition also led to falls … effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

An inventor's own knowledge is a key input in the innovation process. This knowledge can be built by interacting with … and patents. We document key empirical facts on inventors' productivity over the life cycle, inventors' research teams …, and interactions with other inventors. Among others, most patents are the result of collaborative work. Interactions with …

choice between incremental and radical innovation, and on how managers of different ages and human capital are sorted across … measures of creative innovations proxy for innovation quality (average number of citations per patent) and creativity (fraction … of superstar innovators, the likelihood of a very high number of citations, and generality of patents). Our main proxy …

compare decentralization--where the business unit using the technology makes licensing decisions--to centralized licensing … technology markets favors centralization and drives higher licensing rates. Our model conforms to the existing evidence that …

The real business cycle literature has largely ignored the empirical question of what role technology shocks actually … play in business cycles. The observed procyclicality of total factor productivity (TFP) does not prove that technology … other reasons. I address the role of technology by investigating the dynamic interactions of inputs, TFP and two observable …

development of patents by students who had acquired a STEM degree. First, the policy changed the direction of their innovation …This paper studies the effects of university STEM education on innovation and labor market outcomes by exploiting a …. Second, it allowed these individuals to reach top positions within firms and be more involved in the innovation process. STEM …