Room -1.26 EEG & Online
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by Ajay Bhaskarabhatla, Luís Cabral, and Deepak Hegde
We present a series of stylized facts regarding US inventors since the 1970s. Empirically, we examine how inventors’ productivity changes, both within a job and as they change employers throughout their careers. We then develop a theory of inventor careers, largely based on a ladder model of on-the-job search with generic and specific human capital. Finally, we derive policy implications regarding restrictions to inventor mobility.