The Long-Term Impact of Business Cycles on Innovation : Evidence from the Massachusetts Institute of Technology Pian

@inproceedings{Shu2012TheLI,
  title={The Long-Term Impact of Business Cycles on Innovation : Evidence from the Massachusetts Institute of Technology Pian},
  author={G C Shu},
  year={2012}
}
I explore a novel channel through which short-term economic fluctuations affect the long-run innovative output of the U.S. economy: college graduates’ initial career choices. I develop a two-period Roy-style model to show that shocks to initial career choices could affect long-term patent production by changing graduates’ long-term occupational affiliation… CONTINUE READING