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Journal Article
Raising Innovators
Ho, Sara (2019-01)
Research Spotlight on "Who Becomes an Inventor in America? The Importance of Exposure to Innovation." Alex Bell, Raj Chetty, Xavier Jaravel, Neviana Petkova, and John Van Reenen. Quarterly Journal of Economics, May 2019, vol. 134, no. 2, pp. 647?713.
Econ Focus , Issue 1Q , Pages 7-7

Working Paper
Innovation, Diffusion, and Trade: Theory and Measurement
Santacreu, Ana Maria (2014-05-01)
I develop a multicountry-model in which economic growth is driven mainly by domestic innovation and the adoption of foreign technologies embodied in traded intermediate goods. Fitting the model to data on innovation, output per capita, and trade in varieties for the period 1996-2007, I estimate the costs of both domestic innovation and adopting foreign innovations, and then decompose the sources of economic growth around the world. I find that the adoption channel has been especially important in developing countries, and accounts for about 65% of their ?embodied? growth. Developed countries ...
Working Papers , Paper 2014-42

Working Paper
From Population Growth to TFP Growth
Sanchez, Juan M.; Inokuma, Hiroshi (2023-08-25)
A slowdown in population growth causes a decline in business dynamism by increasing the share of old businesses. But how does it affect productivity growth? We answer this question by extending a standard firm dynamics model to include endogenous productivity growth. Theoretically, the growth rate of the size of surviving old businesses is a “sufficient statistic" for determining the direction and magnitude of the impact of population growth on TFP growth. Quantitatively, this effect is significant across balanced growth paths for the United States and Japan. TFP growth in the United States ...
Working Papers , Paper 2023-006

Conference Paper
Jackson Hole 2023 - Has the Macroeconomic Environment Impacted Long-Run Shifts in the Economy?
Ma, Yueran; Haltiwanger, John (2023-08-24)
Proceedings - Economic Policy Symposium - Jackson Hole

Speech
President's Message: Importance of Studying Innovations in Payment Technologies
Bullard, James B. (2022-04-20)
For several years, economists at the St. Louis Fed have been studying innovations in payment technologies such as cryptocurrencies and blockchain.
Speech

Importance of Studying Innovations in Payment Technologies
Bullard, James B. (2022-05-16)
For several years, economists at the St. Louis Fed have been studying innovations in payment technologies such as cryptocurrencies and blockchain, James Bullard writes.
On the Economy

Working Paper
The Agglomeration of American Research and Development Labs
Carlino, Gerald A.; Smith, Tony E.; Carr, Jake; Hunt, Robert M.; Buzard, Kristy (2017-07-18)
We employ a unique data set to examine the spatial clustering of about 1,700 private research and development (R&D) labs in California and across the Northeast corridor of the United States. Using these data, which contain the R&D labs? complete addresses, we are able to more precisely locate innovative activity than with patent data, which only contain zip codes for inventors? residential addresses. We avoid the problems of scale and borders associated with using fixed spatial boundaries, such as zip codes, by developing a new point pattern procedure. Our multiscale core-cluster approach ...
Working Papers , Paper 17-18

Working Paper
The Labor Market Consequences of Appropriate Technology
de Souza, Gustavo (2022-09-06)
Developing countries rely on technology created by developed countries. This paper demonstrates that such reliance increases wage inequality but leads to greater production in developing countries. I study a Brazilian innovation program that taxed the leasing of international technology to subsidize national innovation. I show that the program led firms to replace technology licensed from developed countries with in-house innovations, which led to a decline in both employment and the share of high-skilled workers. Using a model of directed technological change and technology transfer, I find ...
Working Paper Series , Paper WP 2022-53

Working Paper
From Population Growth to TFP Growth
Inokuma, Hiroshi; Sanchez, Juan M. (2024-06-09)
A slowdown in population growth causes a decline in business dynamism by increasing the share of old businesses. But how does it affect productivity growth? We answer this question by extending a standard business dynamics model to include endogenous productivity growth. Theoretically, the growth rate of the size of surviving old businesses is a “sufficient statistic" for determining the direction and magnitude of the impact of population growth on productivity growth. Quantitatively, this effect is significant across balanced growth paths for the United States and Japan. TFP growth in the ...
Working Papers , Paper 2023-006

Technological Innovations and Global Trade of Services
Monge-Naranjo, Alexander; Sun, Qiuhan (2020-12-29)
Technological innovations may give the U.S. a significant advantage in the global trade of services, which could potentially help the U.S. close its trade deficit.
On the Economy

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