26 April 2017
Using data on first-time applications filed at the U.S. Patent Office since 2001,Joan Farre-Mensa
, Deepak Hegde
, and Alexander Ljungqvist
find that startups that win the patent “lottery” by drawing an examiner with a relatively high propensity to grant patents have, on average, 55 percent higher employment growth and 80 percent higher sales growth five years later.
25 April 2017
A third of recent North Carolina public sector retirees who retired before they were eligible for Social Security benefits, and who selected a single life annuity, opted for “Social Security Leveling,” research by Robert L. Clark
, Robert G. Hammond
, Melinda S. Morrill
, and David Vanderweide
finds. This means that their total monthly income would not change when they began to receive Social Security. This behavior suggests a strong consumption smoothing motive.
24 April 2017
The growth in political polarization in recent years is greatest in the demographic groups least likely to use the Internet and social media, Levi Boxell
, Matthew Gentzkow
, and Jesse M. Shapiro
find. Increases in polarization are greater among those older than 75 than among those aged 18 to 39, suggesting that the Internet is not a primary driver of the phenomenon.