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Adams, James - National Bureau of Economic Research (NBER) - 1997

same, not oppo- site effect on wages at both skill levels; a rise in the foreign share in world innovation or US patents … decreases US wages; an increase in the US share in world innovation or US patents raises US wages, especially for the less … skilled; and the stock of world innovation and US patents decreases real wages especially for the less skilled. Turning to the …

Persistent link: https://www.econbiz.de/10005710318

The Growing Allocative Inefficiency of the U.S. Higher Education Sector

Adams, James; Clemmons, J. Roger - National Bureau of Economic Research (NBER) - 2006

This paper presents new evidence on research and teaching productivity in universities using a panel of 102 top U.S. schools during 1981-1999. Faculty employment grows at 0.6 percent per year, compared with growth of 4.9 percent in industrial researchers. Productivity growth per researcher is...

Persistent link: https://www.econbiz.de/10005710600

The Q-Theory of Mergers

Rousseau, Peter; Jovanovic, Boyan - National Bureau of Economic Research (NBER) - 2002

The Q-theory of investment says that a firm's investment rate should rise with its Q. We argue here that this theory also explains why some firms buy other firms. We find that 1. A firm's merger and acquisition (M&A) investment responds to its Q more -- by a factor of 2.6 -- than its direct...

Persistent link: https://www.econbiz.de/10005710654

Science and Industry: Tracing the Flow of Basic Research through Manufacturing and Trade

Adams, James; Clemmons, Roger - National Bureau of Economic Research (NBER) - 2006

This paper describes flows of basic research through the U.S. economy and explores their implications for scientific output at the industry and field level. The time period is the late 20th century. This paper differs from others in its use of measures of science rather than technology. Together...

Persistent link: https://www.econbiz.de/10005088639

General Purpose Technologies

Rousseau, Peter; Jovanovic, Boyan - National Bureau of Economic Research (NBER) - 2005

Electricity and Information Technology (IT) are perhaps the two most important general purpose technologies (GPTs) to date. We analyze how the U.S. economy reacted to them. The Electricity and IT eras are similar, but also differ in several important ways. Electrification was more broadly...

Persistent link: https://www.econbiz.de/10005088958

Vintage Organization Capital

Rousseau, Peter; Jovanovic, Boyan - National Bureau of Economic Research (NBER) - 2001

We study 114 years of U.S. stock market data and find That there are large cohort effects in stock prices, effects that we label 'organization capital,' That cohort effects grew at a rate of 1.75% per year, That the debt-equity ratio of all vintages declined, That three big technological waves...

Persistent link: https://www.econbiz.de/10005049793

Mergers as Reallocation

Rousseau, Peter; Jovanovic, Boyan - National Bureau of Economic Research (NBER) - 2002

We argue that takeovers have played a major role in speeding up the diffusion of new technology. The role that they play is similar to that of entry and exit of firms. We focus on and compare two periods: 1890-1930 during which electricity and the internal combustion engine spread through the...

Persistent link: https://www.econbiz.de/10005049982

Moore's Law and Learning-By-Doing

Rousseau, Peter; Jovanovic, Boyan - National Bureau of Economic Research (NBER) - 2002

We model Moore's Law as efficiency of computer producers that rises as a by-product of their experience. We find that (1) Because computer prices fall much faster than the prices of electricity-driven and diesel-driven capital ever did, growth in the coming decades should be very fast, and that...

Persistent link: https://www.econbiz.de/10005050067

Scientific Teams and Institution Collaborations: Evidence from U.S. Universities, 1981-1999

Adams, James - National Bureau of Economic Research (NBER) - 2004

This paper explores recent trends in the size of scientific teams and in institutional collaborations. The data derive from 2.4 million scientific papers written in 110 leading U.S. research universities over the period 1981-1999. We measure team size by the number of authors on a scientific...

Persistent link: https://www.econbiz.de/10005050357

The NBER-Rensselaer Scientific Papers Database: Form, Nature, and Function

Adams, James; Clemmons, J. Roger - National Bureau of Economic Research (NBER) - 2008

This article is a guide to the NBER-Rensselaer Scientific Papers Database, which includes more than 2.5 million scientific publications and over 21 million citations to those papers. The data cover an important sample of 110 top U.S. universities and 200 top U.S.-based R&D-performing firms...

Persistent link: https://www.econbiz.de/10005575301