This paper is a re-examination of the relationship between research and development (R&D) activity and total factor productivity (TFP) at the industry level during the period extending from the early 1960's to the mid-1970's. The data base consists of NSF data on applied R&D expenditures by...

In this paper we investigate the incidence of measurement errors in two independent estimates of long-term price change, within the framework of "multiple indicators" models of price measurement. We develop estimates of the measurement-error variances associated with both the Producer Price...

A patent only protects an innovator from others producing the same product, but it does not protect him from others producing better products under new patents. Therefore, one may divide up the source of competition facing an innovator into within-patent competition, which results from...