Innovation and the Business Cycle: A Comparison of the U.S. Semiconductor and Automobile Industries. Innovation and the Business Cycle: A Comparison of the U.S. Semiconductor and Automobile Industries.

Innovation and the Business Cycle: A Comparison of the U.S. Semiconductor and Automobile Industries‪.‬

International Advances in Economic Research 2006, May, 12, 2

International Advances in Economic Research
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Publisher Description

Abstract This paper examines data for U.S. automotive and semiconductor firms from 1976 to 2000 to analyze the cyclical nature of innovation, and to find if it is the same across the two industries. Although previous studies have used aggregate data, it does not follow that distinct industries respond to economic fluctuations in the same way. Using patenting as a proxy for innovation, this study finds that there is evidence that innovation is procyclical in the semiconductor industry, but there does not appear to be a similar cyclical pattern in the automobile industry. This has implications for government policy aimed at increasing private sector innovation, particularly at the regional level. (JEL L6)

GENRE
Business & Personal Finance
RELEASED
2006
1 May
LANGUAGE
EN
English
LENGTH
19
Pages
PUBLISHER
Atlantic Economic Society
PROVIDER INFO
The Gale Group, Inc., a Delaware corporation and an affiliate of Cengage Learning, Inc.
SIZE
283.2
KB

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