Technology Network Innovation and Distribution

Jingong Huang
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Jingong Huang: University of Melbourne

No 24, 2017 Meeting Papers from Society for Economic Dynamics

Abstract: Motivated by empirical evidence from the U.S. patent citation data on the dynamics of firms' patent portfolio development, I build a model of innovation incorporating a technology network structure. The model features firms operating in multiple technology sectors and internalising the spillovers of their own knowledge accumulation to produce patents. Two new insights emerge: The technology network is an important determinant of the patent distribution in different sectors. The growth of patents in each sector is proportional to the Eigenvector Centrality of the technology network. The model is estimated using Simulated Method of Moments and it is capable of reproducing the patent distribution observed in the data.

Date: 2017
New Economics Papers: this item is included in nep-cse, nep-dge, nep-ino, nep-knm, nep-net, nep-sbm, nep-tid and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed017:24

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