Patents citations are a potentially powerful indicator of technological innovation. In this paper we describe the IFS … economically and statistically significant impacton firm-level productivity and market value. Patent citations contain more … (total factor) productivity and an eight percent increase in market value. As expected patenting and citation information …

effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

-run growth by increasing the profit from innovation. In the short run, factors of production must be reallocated inside firms …, which lowers the opportunity cost of innovation, generating an additional trapped factor effect. Starting from a baseline …

-run growth by increasing the profit from innovation. In the short run, factors of production must be reallocated inside firms …, which lowers the opportunity cost of innovation, generating an additional trapped factor effect. Starting from a baseline …