What’s the return on government funding for research? There are a few places in the academic literature you can look to for insight. Jones and Summers (2021) uses a hypothetical thought experiment to make the case that, on average, every dollar of R&D spent probably generates several dollars in benefits via its long-run impact on economic growth (see What are the returns to R&D? for more discussion). But that result applies only to R&D in general, government and non-government, bu...
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What’s the return on government funding for research? There are a few places in the academic literature you can look to for insight. Jones and Summers (2021) uses a hypothetical thought experiment to make the case that, on average, every dollar of R&D spent probably generates several dollars in benefits via its long-run impact on economic growth (see What are the returns to R&D? for more discussion). But that result applies only to R&D in general, government and non-government, bu...
Do studies based on patents get different results?
New Things Under the Sun
16 minutes
1 year ago
Do studies based on patents get different results?
Welcome to patents week! I set out to write a post about using patents to measure innovation, but it turned into four. I'm releasing podcasts of each episode, one per day, but if you're too excited to wait, you can read all four here, on New Things Under the Sun.How many inventions are patented? Less than half, more than zeroPatents (weakly) predict innovation: Correlations between patents and other proxies for innovationDo studies based on patents get different results? For the sample on New...
New Things Under the Sun
What’s the return on government funding for research? There are a few places in the academic literature you can look to for insight. Jones and Summers (2021) uses a hypothetical thought experiment to make the case that, on average, every dollar of R&D spent probably generates several dollars in benefits via its long-run impact on economic growth (see What are the returns to R&D? for more discussion). But that result applies only to R&D in general, government and non-government, bu...
