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About the Author(s)

Nicholas Bloom and Josh Lerner have codirected the Productivity, Innovation, and Entrepreneurship Program since 2011. Bloom is the William D. Eberle Professor of Economics at Stanford University.

Lerner is the Jacob H. Schiff Professor of Investment Banking at Harvard Business School.

Heidi Williams Profile

Heidi Williams is a codirector of the Innovation Working Group and a frequent co-organizer of PIE events. Williams is the Charles R. Schwab Professor of Economics at Stanford.


1. For an overview of the digitization effort, see “The Economics of Digitization,” Greenstein S. The Reporter, 2020-2.   Go to ⤴︎
2. Robert Gordon offers a longer discussion: “Why Has Economic Growth Slowed When Innovation Appears to Be Accelerating?” Gordon R. NBER Working Paper 24554, April 2018.   Go to ⤴︎
3. Productivity and Potential Output Before, During, and After the Great Recession,” Fernald J. NBER Working Paper 20248, June 2014; “Challenges to Mismeasurement Explanations for the US Productivity Slowdown,” Syverson C. NBER Working Paper 21974, February 2016; “Offshore Profit Shifting and Domestic Productivity Measurement,” Guvenen F, Mataloni R, Rassier D, Ruhl K. NBER Working Paper 23324, October 2019; “Productivity Measurement: Racing to Keep Up,” Sichel D. NBER Working Paper 25558, February 2019.   Go to ⤴︎
4. Gordon, ibid note 2.   Go to ⤴︎
5. Are Ideas Getting Harder to Find?” Bloom N, Jones C, Van Reenen J, Webb M. NBER Working Paper 23782, September 2017.   Go to ⤴︎
6. The Productivity J-Curve: How Intangibles Complement General Purpose Technologies,” Brynjolfsson E, Rock D, Syverson C. NBER Working Paper 25148, January 2020.   Go to ⤴︎
7. Research that bears on work from home includes “What Jobs Are Being Done at Home during the COVID-19 Crisis? Evidence from Firm-Level Surveys,” Bartik A, Cullen Z, Glaeser E, Luca M, Stanton C. NBER Working Paper 27422, June 2020; “COVID-19 and Remote Work: An Early Look at US Data,” Brynjolfsson E, Horton J, Ozimek A, Rock D, Sharma G, TuYe H-Y. NBER Working Paper 27344, June 2020; “Why Working from Home Will Stick,” Barrero J, Bloom N, Davis S. NBER Working Paper 28731, April 2021.   Go to ⤴︎
8. The rise in inequality is documented, for example, by Piketty and Saez: “Income Inequality in the United States, 1913–1998,” Piketty T, Saez E. NBER Working Paper 8467, September 2001; “The Evolution of Top Incomes: A Historical and International Perspective,” Piketty T, Saez E. NBER Working Paper 11955, January 2006.   Go to ⤴︎
9. Innovation and Top Income Inequality,” Aghion P, Akcigit U, Bergeaud A, Blundell R, Hémous D. NBER Working Paper 21247, June 2015; “A Schumpeterian Model of Top Income Inequality,” Jones C, Kim J. NBER Working Paper 20637, July 2015.   Go to ⤴︎
10. Aghion et al., Ibid.   Go to ⤴︎
11. Induced Innovation and Social Inequality: Evidence from Infant Medical Care,” Cutler D, Meara E, Richards-Shubik S. NBER Working Paper 15316, September 2009.   Go to ⤴︎
12. Who Profits from Patents? Rent-Sharing at Innovative Firms,” Kline P, Petkova N, Williams H, Zidar O. NBER Working Paper 25245, March 2019.   Go to ⤴︎
13. Technological Innovation and Labor Income Risk,” Kogan L, Papanikolaou D, Schmid L, Song J. NBER Working Paper 26964, April 2020.   Go to ⤴︎
14. Who Becomes an Inventor in America? The Importance of Exposure to Innovation,” Bell A, Chetty R, Jaravel X, Petkova N, Van Reenen J. NBER Working Paper 24062, January 2019; “The Rise of American Ingenuity: Innovation and Inventors of the Golden Age,” Akcigit U, Grigsby J, Nicholas T. NBER Working Paper 23047, January 2017; “The Social Origins of Inventors,” Aghion P, Akcigit U, Hyytinen A, Toivanen O. NBER Working Paper 24110, December 2017.   Go to ⤴︎
15. The Allocation of Talent and US Economic Growth,” Hsieh C-T, Hurst E, Jones C, Klenow P. NBER Working Paper 18693, January 2013.   Go to ⤴︎
16. Two recent examples are “Synergizing Ventures,” Akcigit U, Dinlersoz E, Greenwood J, Penciakova V. NBER Working Paper 26196, August 2019; “Private Equity and Growth,” Jovanovic B, Ma S, Rousseau P. NBER Working Paper 28030, October 2020.   Go to ⤴︎
17. The Deregulation of the Private Equity Markets and the Decline in IPOs,” Ewens M, Farre-Mensa J. NBER Working Paper 26317, December 2019.   Go to ⤴︎
19. Benchmarking the Returns to Venture,” Woodward S, Hall R. NBER Working Paper 10202, January 2004.   Go to ⤴︎
20. Diversity in Innovation,” Gompers P, Wang S. NBER Working Paper 23082, January 2017.     Go to ⤴︎
21. Black and White: Access to Capital among Minority-Owned Startups,” Fairlie R, Robb A, Robinson D. NBER Working Paper 28154, November 2020.   Go to ⤴︎

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