James Bessen, Erich Denk, Joowon Kim, Cesare Righi
This paper reports the first recent estimates of trends in the displacement of industry-leading firms. Displacement hazards rose for several decades since 1970 but have declined sharply since 2000. Using a production function-based model to explore the role of investments, acquisitions, and lobbying, we find that investments by dominant firms in intangibles, especially software, are distinctly associated with greater persistence and reduced leapfrogging.
William E. Kovacic, Robert C. Marshall, and Michael J. Meurer
New research arguing for new policies to address serial collusion in various industries, including guidance to antitrust enforcers about how to better understand and combat serial collusion facilitated by patents.
New research finding that firm size, productivity dispersion, and large firm investments in intangibles can account for much of the decline in the response to productivity since 2000, and that industry concentration is directly related to aggregate productivity growth.
New research showing that a supportive organizational culture, not just representation, is necessary for increasing diversity in an organization’s leadership.
A new survey module intended to complement and expand research on the causes and consequences of advanced technology adoption by analyzing the 2018 Annual Business Survey.
Tania Babina, Asaf Bernstein, and Filippo Mezzanotti
New research on the effect of the Great Depression on patenting and the role of financial crises as both destructive and creative forces for innovation.