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Working Paper
International patenting and technology diffusion
Eaton, Jonathan; Kortum, Samuel (1994)
Finance and Economics Discussion Series , Paper 94-35

Working Paper
An empirical look at software patents
Hunt, Robert M.; Bessen, James (2004)
U.S. legal changes have made it easier to obtain patents on inventions that use software. Software patents have grown rapidly and now comprise 15 percent of all patents. They are acquired primarily by large manufacturing firms in industries known for strategic patenting; only 5 percent belong to software publishers. The very large increase in software patent propensity over time is not adequately explained by changes in R&D investments, employment of computer programmers, or productivity growth. The residual increase in patent propensity is consistent with a sizeable rise in the cost ...
Working Papers , Paper 03-17

Journal Article
The Rise of Asia as a Destination for U.S. Patenting
Santacreu, Ana Maria; LaBelle, Jesse (2021-12-03)
China has become one of the main destinations where U.S. inventors seek to protect their intellectual property.
Economic Synopses , Issue 27 , Pages 1-2

Journal Article
Innovative activity in rural areas: the importance of local and regional characteristics
Henry, Mark; Barkley, David L.; Lee, Doohee (2006)
Innovation, supported by a developed and active entrepreneurial system, long has been recognized as critical to regional economic competitiveness. Innovation also plays an essential role for rural economic development as these regions respond to the challenges of competing in the global economy. Barkley and Henry identify assets that contribute to nonmetro innovation ?hot spots.?
Community Development Innovation Review , Issue 3 , Pages 1-14

Newsletter
Patents: protecting inventors and the public good
Ott, Lesli S. (2010-05)
Patent rights are becoming increasingly controversial in areas such as pharmaceuticals and genetics. Should the public good come before the private gain of new product inventors or developers? The May 2010 Newsletter tackles this issue.
Liber8 Economic Information Newsletter , Issue May

Transfer Pricing of Intangible Assets: Evidence from Patent Data
Santacreu, Ana Maria; LaBelle, Jesse (2022-08-09)
To reduce their tax exposure, multinationals may seek to shift profits to countries with lower tax rates. Do patents play a role in this strategy?
On the Economy

Working Paper
Business method patents and U.S. financial services
Hunt, Robert M. (2008)
A decade after the State Street decision, more than 1,000 business method patents are granted each year. Yet only one in ten are obtained by a financial institution. Most business method patents are also software patents. ; Have these patents increased innovation in financial services? To address this question the author constructs new indicators of R&D intensity based on the occupational composition of financial industries. The financial sector appears more research intensive than official statistics would suggest but less than the private economy taken as a whole. There is considerable ...
Working Papers , Paper 08-10

Working Paper
The Impact of the 2017 Tax Cuts and Jobs Act on U.S. Multinationals’ Intangible Assets
Stewart, Ashley; Santacreu, Ana Maria (2024-08)
This paper investigates the impact of the 2017 Tax Cuts and Jobs Act (TCJA) on U.S. multinationals’ intangibles. We develop a theoretical model that incorporates key provisions of the TCJA—the Global Intangible Low-Taxed Income (GILTI) and the Foreign-Derived Intangible Income (FDII)—and derive testable implications for changes in licensing and patent transfer patterns. Using data on international royalty flows and patent assignments, we test the model’s predictions. Our findings suggest that the TCJA may have impacted profit shifting strategies through intangibles, aligning with our ...
Working Papers , Paper 2024-020

Working Paper
Artificial Intelligence Innovation by Financial Innovators: Evidence from US Patents
Timmerman, Jean Xiao (2025-12-12)
This paper examines the evolution of artificial intelligence (AI) patent rates (i.e., the number of AI patents/number of firms of the same type) and concentration metrics (i.e., the Herfindahl-Hirschman Index (HHI) and Gini coefficient) among financial market participants from 2000 to 2020. It documents the historical trajectories of AI innovation for regulated banking entities and less-regulated firms, revealing that nonfinancial companies exhibit the highest baseline AI patent rate, while banks show the highest growth in AI patent rate over time. Banks have the highest HHI, and nonfinancial ...
Finance and Economics Discussion Series , Paper 2025-104

Working Paper
Lockdowns and Innovation: Evidence from the 1918 Flu Pandemic
Lin, Jeffrey; Berkes, Enrico; Severen, Christopher; Gaetani, Ruben; Deschênes, Olivier (2020-12-03)
Does social distancing harm innovation? We estimate the effect of non-pharmaceutical interventions (NPIs)—policies that restrict interactions in an attempt to slow the spread of disease—on local invention. We construct a panel of issued patents and NPIs adopted by 50 large US cities during the 1918 flu pandemic. Difference-in-differences estimates show that cities adopting longer NPIs did not experience a decline in patenting during the pandemic relative to short-NPI cities, and recorded higher patenting afterward. Rather than reduce local invention by restricting localized knowledge ...
Working Papers , Paper 20-46

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