| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17769 |
| 来源ID | Working Paper 17769 |
| Technological Innovation, Resource Allocation, and Growth | |
| Leonid Kogan; Dimitris Papanikolaou; Amit Seru; Noah Stoffman | |
| 发表日期 | 2012-01-20 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We propose a new measure of the economic importance of each innovation. Our measure uses newly collected data on patents issued to US firms in the 1926 to 2010 period, combined with the stock market response to news about patents. Our patent- level estimates of private economic value are positively related to the scientific value of these patents, as measured by the number of citations that the patent receives in the future. Our new measure is associated with substantial growth, reallocation and creative destruction, consistent with the predictions of Schumpeterian growth models. Aggregating our measure suggests that technological innovation accounts for significant medium-run fluctuations in aggregate economic growth and TFP. Our measure contains additional information relative to citation-weighted patent counts; the relation between our measure and firm growth is considerably stronger. Importantly, the degree of creative destruction that is associated with our measure is higher than previous estimates, confirming that it is a useful proxy for the private valuation of patents. |
| 主题 | Macroeconomics ; Business Cycles ; Financial Economics ; Financial Markets ; Development and Growth ; Innovation and R& ; D ; Growth and Productivity |
| URL | https://www.nber.org/papers/w17769 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575442 |
| 推荐引用方式 GB/T 7714 | Leonid Kogan,Dimitris Papanikolaou,Amit Seru,et al. Technological Innovation, Resource Allocation, and Growth. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17769.pdf（470KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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