This paper describes a new patent-based indicator of inventive activity. The indicator is based on counting all the priority patent applications filed by a country's inventors, regardless of the patent office in which the application is filed, and can therefore be considered as a complete...

This paper presents evidence that firms face a trade-off between the quantity and the quality of their research output. The econometric analysis uses survey data on patent applicants at the European Patent Office and addresses the identification problem caused by differences in firms’...

Contrary to an accepted wisdom, this paper shows that cross-country variations in the number of patents per researcher do not only reflect differences in the propensity to patent but also signals differences in research productivity. We put forward and test an empirical model that formally...

Economic theory predicts that policies that discourage the consumption of a particular good will induce innovation in a socially desirable substitute. However, the literature on technology trajectories emphasizes the possibility of innovation waves associated with the identification of new...