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America Counts: Stories Behind the Numbers
Who Are the Inventors and Firms That Generate the Most Patents?
An increasing share of U.S. inventions are generated by large, well-established firms but the radical and impactful innovations more likely to come from younger firms are declining, according to research recently presented at a U.S. Census Bureau webinar.
The research, which linked patent inventors to the Census Bureau’s Longitudinal Employer-Household Dynamics (LEHD), showed that older firms tended to produce more but less impactful patents. Their growth may signal a slowdown in innovation.
In a series of research papers, my co-author Ufuk Akcigit, professor of economics at the University of Chicago, and I created a database to investigate the characteristics and employment dynamics of patent inventors.
LEHD provides the full employment history of nearly all U.S. workers, including their earnings employer and demographic characteristics. That allows the linking of patents to the individual inventors.
Continue reading to learn more about our nation's inventors and the firms that employ them.
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