Lerner, Joshua; Seru, Amit; Short, Nick; Sun, Yuan - National Bureau of Economic Research - 2021
and production of financial innovation. We use machine learning to identify the financial patents and extensively audit … the results to ensure their reasonableness. We find that patented financial innovation is substantial and economically … financial sector, which collectively accounted for 69% of the awards. The location of innovation has shifted, with banks moving …
