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The Allocation of Talent Over the Business Cycle and its Long�?Term Effect on Sectoral Productivity
type="main" xml:id="ecca12143-abs-0001"> It is well documented that graduates enter different occupations in recessions than in booms. In our paper, we examine the impact of the resulting change inExpand
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How Antitrust Enforcement Can Spur Innovation: Bell Labs and the 1956 Consent Decree
We study the 1956 consent decree against the Bell System to investigate whether patents held by a dominant firm are harmful for innovation and if so, whether compulsory licensing can provide anExpand
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The Allocation of Talent over the Business Cycle and its Effect on Sectoral Productivity
It is well documented that graduates enter different occupations in recessions than in booms. In this article, we examine the impact of this reallocation for long-term productivity and output acrossExpand
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Disclosure and Subsequent Innovation: Evidence from the Patent Depository Library Program
How important is information disclosure through patents for subsequent innovation? Although disclosure is regarded as essential to the functioning of the patent system, legal scholars have expressedExpand
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Measuring the Spillovers of Venture Capital
This paper shows that venture capital investment in start-ups increases innovation of established companies in technologically related fields due to knowledge spillovers. To address endogeneityExpand
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The Capital Gains Tax: A Curse but Also a Blessing for Venture Capital Investment
Our study analyzes the effect of the capital gains tax on the individual investment decisions of venture capitalists. By doing so, we are able to study the decisions for a sample of 61,558 fundingExpand
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Job Creation in Tight and Slack Labor Markets
Do investment programs create more jobs in tight or in slack labor markets? We study this question using data from a large, long-term photovoltaic investment scheme in Germany. Comparing countiesExpand
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The Employment Effects of Countercyclical Infrastructure Investments
We estimate the causal impact of a sizable German infrastructure investment program on employment at the county level. The program focused on improving the energy efficiency of school buildings,Expand
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Standing on the Shoulders of Science
The goal of science is to advance knowledge, yet little is known about its value for marketplace inventions. While important breakthrough technologies could not have been developed without scientificExpand
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Antitrust, Patents, and Cumulative Innovation: Evidence from Bell Labs
How large is the impact of intellectual property on cumulative innovation in electronics, computers and communications? Following an antitrust lawsuit against Western Electric and AT&T, Bell Labs hadExpand
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