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English Français Deutsch Italiano 中文 More Español Ελληνικά 日本語 Português Türkçe Relatively flat US productivity growth versus rising R&D expenditures is often interpreted as evidence that ideas are getting harder to find. We build a new 45-year panel tracking the universe of US firms' patenting to investigate the micro underpinnings of this conclusion, separately examining the relationships between research inputs and ideas (patents) versus ideas and growth.
We thank Nick Bloom, Santiago Caicedo, Cheryl Grim, Chad Jones, Samuel Kortum, Ezra Oberfield, Bitsy Perlman, Michael Peters, Thomas Sampson, Chad Syverson, Karthik Tadepalli, Fabrizio Zilibotti and numerous conference and seminar participants for helpful comments and suggestions. Any opinions and conclusions expressed herein are those of the authors and do not represent the views of the US Census Bureau.
Abstract Relatively flat US output growth versus rising numbers of US researchers is often interpreted as evidence that "ideas are getting harder to find." We build a new 46-year panel tracking the universe of U.S. firms' patenting to investigate the micro underpinnings of this claim, separately examining the relationships between research inputs and ideas (patents) versus ideas and growth.
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