How do innovation and education policy affect individual career choice and aggregate productivity? This paper analyzes … about the links between talent, higher education, and innovation. We use these facts to calibrate the model and study … when combined with higher education policy that alleviates financial frictions for talented youth. Education and innovation …

explain them. We then describe a theoretical framework of endogenous markups, innovation, and competition that can potentially … firms respond to a given concentration in the economy. The results highlight that a decline in knowledge diffusion between …

linked fields. Our analysis uses 1.8 million U.S. patents and their citation properties to map the innovation network and its … strength. Past innovation network structures are calculated using citation patterns across technology classes during 1975 … predictive power on future innovation after 1995. This pattern is consistent with the idea that when there is more past upstream …

. Importantly, the theoretical model captures the strategic behavior between competing firms, its effect on their innovation … knowledge diffusion from the frontier firms to the laggard ones in explaining the observed shifts. We conclude by presenting new … evidence that corroborates a declining knowledge diffusion in the economy. We document a higher concentration of patenting in …

How do non-practicing entities (“Patent Trolls”) impact innovation and technological progress? We employ unprecedented … innovation drops when patents are acquired by NPEs. Quantitatively, the overall impact of NPEs depends on the share of …

This paper studies the effect of corporate and personal taxes on innovation in the United States over the twentieth … neighboring counties in different states. We find that taxes matter for innovation: higher personal and corporate income taxes …. Agglomeration effects from local innovation clusters tend to weaken responsiveness to taxation. Corporate inventors respond more …

the many margins through which tax policies can affect innovation, the main driver of economic growth in the long …-run. These margins include the impact of tax policy on i) the quantity and quality of innovation; ii) the geographic mobility of … innovation and inventors across U.S. states and countries; iii) the declining business dynamism in the U.S., firm entry, and …

entrant or incumbent firm. If the inventor works for the entrant the innovation is implemented and the entrant displaces the …