The pace of industrial innovation and growth is shaped by many forces that interact in complicated ways. Profit … strength of the concepts emphasized above. We then use data on patents and patent citations as empirical counterparts of new … knowledge generation (as evidenced by patent citation rate) has been declining over the century: the resulting decline in the …

innovation in a socially desirable substitute. Evolutionary theory emphasizes the possibility of innovation waves associated with … products. It does appear, however, that dominant designs did have substantial positive innovation effects. More specifically … innovation effects at the firm level than among individual inventors. …

other citations; (2) patents in the same patent class are approximately 100 times as likely to cite each other as patents … from different patent classes there is not a strong time pattern to this effect; (3) patents whose inventors reside in the …

As patent data become more available in machine-readable form, an increasing number of researchers have begun to use … the economic meaning of these citation-based patent measures using the financial market valuation of the firms that own … measures of Tobin's Q for the firms. We find that citation-weighted patent stocks are more highly correlated with market value …

effect on the performance of domestic firms relative to their foreign competitors, by stimulating domestic innovation. We … examine the stylized facts regarding environmental expenditures and innovation in a panel of manufacturing industries. We find … unobserved industry-specific effects. We find little evidence, however, that industries' inventive output (as measured by patent …