Home > Publications . Search All . Browse All . Country . Browse PSC Pubs . PSC Report Series

PSC In The News

RSS Feed icon

Cheng finds marriage may not be best career option for women

Lam discusses youth population dynamics and economics in sub-Saharan Africa

Work by Bailey and Dynarski cited in NYT piece on income inequality

Highlights

Jeff Morenoff makes Reuters' Highly Cited Researchers list for 2014

Susan Murphy named Distinguished University Professor

Sarah Burgard and former PSC trainee Jennifer Ailshire win ASA award for paper

James Jackson to be appointed to NSF's National Science Board

Next Brown Bag


PSC Brown Bags will return in the fall

Derivitive Ideas and the Value of Intangible Assets

Archived Abstract of Former PSC Researcher

Laitner, John, and D. Stolyarov. 2013. "Derivitive Ideas and the Value of Intangible Assets." International Economic Review, 54(1): 59-95.

We build a general equilibrium model where growth is driven by two invention types: fundamental ideas that cause creative destruction, and derivative ideas that enhance the value of existing inventions. The model provides a new mapping from microeconomic, patent data to aggregate total factor productivity growth and the aggregate value of privately owned knowledge. We show how to measure the frequency of derivative ideas and the rate of creative destruction. We estimate that derivative ideas account for 7080% of all patents and their presence more than doubles the value of knowledge capital relative to what the measured innovation rate might otherwise imply.

DOI:10.1111/j.1468-2354.2012.00726.x (Full Text)

Browse | Search : All Pubs | Next