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This paper returns to the discussion of how income inequality affects economic growth. The main argument is that economic freedom is likely to affect the association although the relations are theoretically ambiguous. In a panel of 300 observations from five-year periods across the 50 US states,...
Persistent link: https://www.econbiz.de/10013012727
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Policy-makers have become increasingly aware that corporate R&D and innovation are the main drivers of an economy's competitiveness and growth. The widespread adoption of R&D targets has led researchers and analysts to pursue a deeper understanding of corporate R&D investment trends, drivers and...
Persistent link: https://www.econbiz.de/10011980250
model to analyze the interplay between income distribution, innovation and productivity growth. Results still show that the …
Persistent link: https://www.econbiz.de/10012497056
Sectoral data features (i) changing relative expenditures of different sectors, (ii) non-constancy in relative prices and (iii) long-run trends in relative TFP growth rates across sectors. We provide a tractable theory of industry directed technical change, which is able to reconcile these...
Persistent link: https://www.econbiz.de/10009761752
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This paper uses a large language model to develop an ex-ante measure of the commercial potential of scientific findings. In addition to validating the measure against the typical holdout sample, we validate it externally against 1.) the progression of scientific findings through a major...
Persistent link: https://www.econbiz.de/10014512116
How do firms and inventors move through knowledge space as they develop their innovations? We propose a method for tracking patterns of exploration and exploitation in patenting behaviour in the US for the period since 1920. Our exploration measure is constructed from the text of patents and...
Persistent link: https://www.econbiz.de/10013215975
occurred simultaneously, is the reduction of the total factor productivity during the emergence of the computerage - the so … called productivity paradox. This contribution offers a simple unified solution to both of these puzzles and explains the … share of individuals who choose a less productive qualification may lead to a transitory slowdown of the productivity growth …
Persistent link: https://www.econbiz.de/10003470547
suggest that the prospect of patent protection spurred technological progress and increased downstream productivity and …
Persistent link: https://www.econbiz.de/10013212210