This paper documents a shift in the nature of innovation in the information technology (IT) industry. Using … comprehensive data on all IT patents granted by the USPTO from 1983-2004, we find strong evidence of a change in IT innovation that … is systematic, substantial, and increasingly dependent on software. This change in the nature of IT innovation has had …

This paper investigates the relationship between product market competition (PMC) and innovation. A Schumpeterian …, competition may also reduce innovation incentives for laggards. This model generates four main predictions which we test … empirically. First, the relationship between product market competition (PMC) and innovation is an inverted U-shape: the escape …

innovation distinguishing between dirty (internal combustion engine) and clean (e.g. electric and hybrid) patents across 80 … tax-inclusive fuel prices. Furthermore, there is path dependence in the type of innovation both from aggregate spillovers … and from the firm's own innovation history. Using our model we simulate the increases in carbon taxes needed to allow …