Hanley, Douglas - Department of Economics, University of Pittsburgh - 2014
growth, lower exit rates, and lower rates of patent expiry. To better understand these trends, I construct a model of firm … sequentiality in the industry. Estimating the model using data on US firms and recent data on US patent transfers, I can account for …, which amounts to 2.5% in consumption equivalent terms, can be partially remedied using a patent policy featuring weaker …