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

PSC In The News

RSS Feed icon

Savolainen links antisocial behavior in childhood to disadvantage and poverty in adulthood

Norton et al. put dollar value on relief from chronic pain for Americans age 50+

Seefeldt says TANF restrictions may limit program's help for poor Americans

More News

Highlights

Paula Fomby to succeed Jennifer Barber as Associate Director of PSC

PSC community celebrates Violet Elder's retirement from PSC

Neal Krause wins GSA's Robert Kleemeier Award

U-M awarded $58 million to develop ideas for preventing and treating health problems

More Highlights

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