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Entrepreneurs undertake more R&D when financiers are better informed about their projects because they expect to receive more funding should those projects prove successful.Financiers learn more about projects when entrepreneurs perform more R&D because then the opportunity cost of misinvesting...
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requested, and the year a patent right lapsed) correspond with those of invention-related behaviors in these firms (e.g., the … year an invention was first exploited and the year its exploitation ended). The evidence from our estimation results does … not necessarily support a correspondence between the timings of patent-related and invention-related behaviors. This …
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This chapter summarizes the basic characteristics of patent data as an innovation indicator and reviews some of the recent research using patent data, focusing on major developments since Griliches in 1990 [Griliches, Z. (1990). “Patent statistics as economic indicators: A survey”. Journal...
Persistent link: https://www.econbiz.de/10014025146
Schumpeterian growth theory has operationalized Schumpeter’s notion of creative destruction by developing models based … institutions; and (iv) the emergence and impact of long-term technological waves. In each case, Schumpeterian growth theory …
Persistent link: https://www.econbiz.de/10014025596
We introduce publicly funded education into R&D-based economic growth theory. Our framework allows us to i) explicitly …-endogenous growth theory with the empirical evidence on the relationship between economic development and population growth, and iii …
Persistent link: https://www.econbiz.de/10009674960
I develop a model for a small, open, technology-lagging economy that imports leading-edge knowledge from the technology … only as share of leading-edge knowledge at a reduced licensing fee. I use as the large, technology-leading country the … closed economy from an endogenous growth model that endogenizes invention, innovation and diffusion of knowledge that is …
Persistent link: https://www.econbiz.de/10014068586
applications of knowledge to low cost production methods). The model incorporates my theory that invention, innovation, and …A growth model is presented that examines i) the creation of skill-biased knowledge through invention (defined here as …
Persistent link: https://www.econbiz.de/10014068589
We study how individual inventors respond to incentives to work on "clean" electricity technologies. Using natural gas price variation, we estimate output and entry elasticities of inventors and measure the medium-term impacts of a price increase mirroring the social cost of carbon. We find that...
Persistent link: https://www.econbiz.de/10014383723