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Thompson says America must "unchoose" policies that have led to mass incarceration

Axinn says new data on campus rape will "allow students to see for themselves the full extent of this problem"

Frey says white population is growing in Detroit and other large cities


Susan Murphy to speak at U-M kickoff for data science initiative, Oct 6, Rackham

Andrew Goodman-Bacon, former trainee, wins 2015 Nevins Prize for best dissertation in economic history

Deirdre Bloome wins ASA award for work on racial inequality and intergenerational transmission

Bob Willis awarded 2015 Jacob Mincer Award for Lifetime Contributions to the Field of Labor Economics

Next Brown Bag

Monday, Oct 5 at noon, 6050 ISR
Colter Mitchell: Biological consequences of poverty

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)

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