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This paper presents an exploratory study on the characteristics of inventive activities as captured on the basis of the analysis of a data-set of R&D awards. Our data source is the "R&D 100 Awards" competition organized by the journal Research and Development. Since 1963, the magazine (which at...

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The number of requests for patent examination showed a significant increase of 83% from 1997 to 2007 in Japan, while the number of patent applications increased by only 1%. This paper aims at theoretically and empirically analyzing the causes of recent "explosion" of examination requests,...

This paper demonstrates endogenous fluctuations of aggregate investments when firm-level investments follow an (S,s) policy and exhibit strategic complementarity. We present a method to characterize the aggregate fluctuations that arise from the interaction of the (S,s) policies. A closed-form...

Evaluations of government Technology Development Funds (TDFs) in Argentina, Brazil, Chile and Panama are surveyed. All the evaluations were done at the recipient (firm) level using data from innovation surveys, industrial surveys, and administrative records of the granting units, together with...

This paper quantifies the effect of time-varying employment risks on the fluctuations of aggregate consumption in a dynamic general equilibrium with incomplete markets. A government's redistribution policy through provision of unemployment insurance can cause a positive correlation between...