| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25245 |
| 来源ID | Working Paper 25245 |
| Who Profits from Patents? Rent-Sharing at Innovative Firms | |
| Patrick Kline; Neviana Petkova; Heidi Williams; Owen Zidar | |
| 发表日期 | 2018-11-12 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | This paper analyzes how patent-induced shocks to labor productivity propagate into worker compensation using a new linkage of US patent applications to US business and worker tax records. We infer the causal effects of patent allowances by comparing firms whose patent applications were initially allowed to those whose patent applications were initially rejected. To identify patents that are ex-ante valuable, we extrapolate the excess stock return estimates of Kogan et al. (2017) to the full set of accepted and rejected patent applications based on predetermined firm and patent application characteristics. An initial allowance of an ex-ante valuable patent generates substantial increases in firm productivity and worker compensation. By contrast, initial allowances of lower ex-ante value patents yield no detectable effects on firm outcomes. Patent allowances lead firms to increase employment, but entry wages and workforce composition are insensitive to patent decisions. On average, workers capture roughly 30 cents of every dollar of patent-induced surplus in higher earnings. This share is roughly twice as high among workers present since the year of application. These earnings effects are concentrated among men and workers in the top half of the earnings distribution, and are paired with corresponding improvements in worker retention among these groups. We interpret these earnings responses as reflecting the capture of economic rents by senior workers, who are most costly for innovative firms to replace. |
| 主题 | Labor Economics ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w25245 |
| 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/582919 |
| 推荐引用方式 GB/T 7714 | Patrick Kline,Neviana Petkova,Heidi Williams,et al. Who Profits from Patents? Rent-Sharing at Innovative Firms. 2018. |
| 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 | ||
| w25245.pdf（721KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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