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Patenting and business cycles: computers vs. auto industries.

Publication: International Advances in Economic Research
Publication Date: 01-FEB-05
Format: Online
Delivery: Immediate Online Access
Full Article Title: Patenting and business cycles: computers vs. auto industries.(Research Notes)

Article Excerpt
We find that patenting in the U.S. automobile and semiconductor industries is strongly influenced by the business cycle and, despite different industry structures, neither industry is dominated by countercyclical effects. There are two common hypotheses for why innovation might be related to economic fluctuations. The "opportunity cost effect" says...

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