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We study the relationship between patents and actual product innovation in the market, and how this relationship varies with firms' market share. We use textual analysis to create a new data set that links patents to products of firms in the consumer goods sector. We find that patent filings are...
Persistent link: https://www.econbiz.de/10012203391
Measuring the dispersion of productivity or efficiency across firms in a market or industry is rife with methodological …
Persistent link: https://www.econbiz.de/10011622903
This study examines the individual and joint impact of technology transfer and in-house R&D on firms' productivity and … margin) and export share (the intensive margin) are positive and significant. In terms of productivity, our result suggests … the presence of vertical spillover. Technology transfer along the supply chain is associated with higher productivity- the …
Persistent link: https://www.econbiz.de/10014251680
This paper presents insights on U.S. business cycle volatility since 1867 de- rived from diffusion indices. We employ a Bayesian dynamic factor model to obtain aggregate and sectoral economic activity indices. We find a remarkable increase in volatility across World War I, which is reversed...
Persistent link: https://www.econbiz.de/10003796122
Most treatments of the Great Depression have focused on its onset and its aftermath. In contrast, we take a unified view of the interwar period. We look at the slide into and the emergence from the 1920-21 recession and the roaring 1920s boom, as well as the slide into the Great Depression after...
Persistent link: https://www.econbiz.de/10003422937
This paper examines the role of currency and banking in the German financial crisis of 1931 for both Germany and the U.S. We specify a structural dynamic factor model to identify financial and monetary factors separately for each of the two economies. We find that monetary transmission through...
Persistent link: https://www.econbiz.de/10003952982
This paper presents an empirical examination of economic and institutional development. Utilizing a novel data set on American Indian tribal nations, we investigate how constitutional design affects economic development, while holding the broader legal and political environment fixed....
Persistent link: https://www.econbiz.de/10009575381
Persistent link: https://www.econbiz.de/10009154969
Immigration authorities have seldom collected data on the out-migration of the foreign-born. As a consequence, several indirect approaches have been proposed to measure and study out-migration. This paper adds to the literature by using official statistics that directly identify the...
Persistent link: https://www.econbiz.de/10009719605
Using state-dependent local projection methods and historical U.S. data, we find that government spending multipliers are considerably larger in periods of private debt overhang. In particular, we find significant crowding-out of personal consumption and investment in low-debt states, resulting...
Persistent link: https://www.econbiz.de/10010498604