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NBER Working Papers and Publications
|November 2017||Digital Innovation and the Distribution of Income|
with Caroline Paunov: w23987
Income inequalities have increased in most OECD countries over the past decades; particularly the income share of the top 1%. In this paper we argue that the growing importance of digital innovation – new products and processes based on software code and data – has increased market rents, which benefit disproportionately the top income groups. In line with Schumpeter’s vision, digital innovation gives rise to ”winner-take-all” market structures, characterized by higher market power and risk than was the case in the previous economy of tangible products. The cause for these new market structures is digital non-rivalry, which allows for massive economies of scale and reduces costs of innovation. The latter stimulates higher rates of creative destruction, leading to higher risk as only margin...
|March 2017||Digital Innovation and the Distribution of Income|
with Caroline Paunov
in Measuring and Accounting for Innovation in the 21st Century, Carol Corrado, Javier Miranda, Jonathan Haskel, and Daniel Sichel, organizers
|March 2010||Harmonizing and Combining Large Datasets - An Application to Firm-Level Patent and Accounting Data|
with Grid Thoma, Salvatore Torrisi, Alfonso Gambardella, Bronwyn H. Hall, Dietmar Harhoff: w15851
This paper discusses methods for the harmonization and combination of large-scale patent and trademark datasets with each other and other sources of data. Dictionary- and rule-based approaches to the consolidation of applicant names in patent data are presented and shown to have both benefits and drawbacks in isolation. We combine the two methods and develop a set of rules and dictionaries to consolidate European, Patent Cooperation Treaty (PCT) and US patent data with firm accounting data. The resulting data encompass about 131,000 patent applicant names from 46 countries, covering 58.8 percent of EPO applications and 50.6 percent of PCT applications by business organizations during the time period from 1979 to 2008. For US data, the resulting dataset includes around 54,000 assignee names...