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Keywords:Research and development 

Journal Article
Brunelleschi's bargain: intellectual property in digital space

Regional Review , Issue Fall , Pages 6-13

Conference Paper
The role of universities and technology commercialization in economic development

Tech generates new wealth in its region and universities are more important than ever in their role fostering regional growth.
Proceedings

Conference Paper
Inside P&G’s innovation machine

Jeff Davis, Director of New Business Development at Proctor & Gamble, discusses P& G's new innovation strategy and their "connect and develop" model.
Proceedings

Working Paper
Measuring the social return to R&D

A large, empirical literature reports estimates of the rate of return to R&D ranging from 30 percent to over 100 percent, supporting the notion that there is too little private investment in research. This conclusion is challenged by the new growth theory. We derive analytically the relationship between the social rate of return to R&D and the coefficient estimates of the empirical literature. We show that these estimates represent a lower bound on the true social rate of return. Using a conservative estimate of the rate of return to R&D of about 30 percent, optimal R&D investment is at least ...
Finance and Economics Discussion Series , Paper 1997-12

Newsletter
Why don't recessions encourage more R&D spending?

Economists sometimes argue that recessions promote activities that ultimately contribute to long-run growth. But evidence suggests research and development, one important source of economic growth, falls rather than rises during recessions, even for firms that do not appear to be credit constrained. The author discusses an alternative explanation for this pattern.
Chicago Fed Letter , Issue Nov

Working Paper
Cross-sectoral variation in firm-level idiosyncratic risk

In this paper we use data from the U.S. Census Bureau?s Longitudinal Research Database in order to assess the extent of the cross-sectoral variation in firm-level idiosyncratic risk and shed light on its determinants. We find that firms producing investment goods exhibit greater volatility in sales and TFP growth than firms producing consumption goods. Our data suggests that this may be the case because winner?takes?all competition is more common for the former than for the latter.
Working Papers (Old Series) , Paper 0812

Journal Article
Are we running out of new ideas? a look at patents and R&D

FRBSF Economic Letter

Working Paper
Implications of intellectual property rights for dynamic gains from trade

A simple intellectual property rights (IPRs) framework is introduced into a dynamic quality ladder model of technological diffusion between innovating firms in one country and imitating firms in another country. The presence of technological spillovers and feedback effects between firms in the two countries demonstrates that, even when steady state growth increases, transition costs sometimes dominate steady state welfare gains. Most existing models of international IPRs find that high intellectual property enforcement in the imitating country leads to welfare gains in the innovating country ...
Working Paper Series , Paper 2004-23

Working Paper
R&D spending and cyclical fluctuations: putting the \"technology\" in technology shocks

We examine the dynamic properties of an endogenous growth model with an explicit R&D sector in order to evaluate its ability to propagate temporary disturbances into persistent fluctuations in macroeconomic variables. We demonstrate that a large proportion of the variability and persistence of measured Solow residuals can be thought of as reflecting the endogenous accumulation and adaptation of technical knowledge rather than simply exogenous processes. By explicitly modeling R&D, we use a framework in which it is possible to explicitly consider the role of technology in "technology shocks."
Working Papers , Paper 1998-020

Working Paper
Too much of a good thing? The economics of investment in R&D

Finance and Economics Discussion Series , Paper 95-39

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