Found 48 article(s) for author 'William Kerr'

Innovation network

Innovation network. William Kerr, October 11, 2016, Paper, “We describe the strength and importance of the innovation network that links patenting technology fields together. We quantify that technological advances spill out of individual fields and enrich the work of neighboring technologies, but these spillovers are also localized and not universal. Thus, innovation advances in one part of the network can significantly impact nearby disciplines but rarely those very far away. We verify the strength and stable importance of the innovation network by showing how past innovations can predict future innovations in other fields over 10-y horizons. This better understanding of how scientific progress occurs and how inventions build upon themselves is an important input to our depictions of the cumulative process of innovation and its economic growth consequences.Link

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Immigrants Play a Disproportionate Role in American Entrepreneurship

Immigrants Play a Disproportionate Role in American Entrepreneurship. William Kerr, October 3, 2016, Opinion, “Immigration is one of the most divisive and polarizing topics today. Do immigrants take American jobs, or help our economy grow? Do immigrants drain our welfare funds, or can they help refill public coffers as our baby boomers retire? One argument you tend to hear in the immigration debate in the U.S. is that there is a fixed number of jobs in the economy — and immigrants just compete for a slice of the pie rather than helping the pie grow. This perspective is less prevalent when talking about startups, however, because the rate of entrepreneurship has declined significantly in the U.S. over the last 30 years, and fewer startups are being generated today.” Link

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Innovation and Business Growth

Innovation and Business Growth. William Kerr, March 22, 2016, Book Chapter. “Innovation and the pursuit of new business opportunities is essential for growth at the firm level; moreover, it provides the foundation for an economy to achieve new levels of technological prowess, productivity and, ultimately, prosperity. This chapter describes recent work in economics and management scholarship on how firms grow. Given the other contributions in this conference volume, we focus specifically on questions surrounding the types of innovations that large and small firms pursue and how it impacts their relative growth rates. Developing evidence suggests that as firms become larger they have trouble maintaining the external innovations that are most powerful for growth, instead focusing increasingly on internal work and enhancements.Link

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Taxation, Corruption, and Growth

Taxation, Corruption, and Growth. William Kerr, January 2016, Paper. “We build an endogenous growth model to analyze the relationships between taxation, corruption, and economic growth. Entrepreneurs lie at the center of the model and face disincentive effects from taxation but acquire positive benefits from public infrastructure. Political corruption governs the efficiency with which tax revenues are translated into infrastructure. The model predicts an inverted-U relationship between taxation and growth, with corruption reducing the optimal taxation level. We find evidence consistent with these predictions and the entrepreneurial channel using data from the Longitudinal Business Database of the US Census Bureau.Link

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Social networks, ethnicity and entrepreneurship

Social Networks, Ethnicity and Entrepreneurship. William Kerr, October 31, 2015, Opinion. “The book Blue Dreams: Korean Americans and the Los Angeles Riots relates the story of Yun, a Korean university graduate who came to the US in the late 1970s to pursue higher degrees in mathematics. He ended up abandoning those plans to join a relative in running a small store selling trinkets. “There is an expression here: ’What you do depends on who picks you up at the airport,’” he noted. “I, too, followed my relative into the same business.” This story reflects the broad tendency among immigrant populations to concentrate around specific industries and entrepreneurship. This is not a new phenomenon; historical examples of ethnic specialisation range from the Jews in Medieval Europe to the Japanese in South America. Fairlie (2008) shows that immigrants are much more likely to be self-employed entrepreneurs than natives. Kuznets (1960) observed that “all minorities are characterised, at a given time, by an occupational structure distinctly narrower than that of the total population and the majority.”Link

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The Logic of Agglomeration

The Logic of Agglomeration. William Kerr, August 2015, Paper. “This review discusses frontier topics in economic geography as they relate to firms and agglomeration economies. We focus on areas where empirical research is scarce but possible. We first outline a conceptual framework for city formation that allows us to contemplate what empiricists might study when using firm-level data to compare the functioning of cities and industries with each other. We then examine a second model of the internal structure of a cluster to examine possibilities with firm-level data for better exposing the internal operations of clusters…Link

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House Money and Entrepreneurship

House Money and Entrepreneurship. William Kerr, Ramana Nanda, August 2015, Paper. “We examine the relationship between house prices and entrepreneurship using micro data from the US Census Bureau. Increases in house prices are often thought to drive entrepreneurship through unlocking the collateral channel for bank loans, but this interpretation is challenged by worries regarding omitted variable biases (e.g., rising local demand) or wealth effects (i.e., that people with more valuable homes are more likely to enter entrepreneurship for reasons other than access to collateral). We construct an empirical environment…” Link

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Social Networks, Ethnicity, and Entrepreneurship

Social Networks, Ethnicity, and Entrepreneurship. William Kerr, July 11, 2015, Paper. “We study the relationship between ethnicity, occupational choice, and entrepreneurship. Immigrant groups in the United States tend to cluster in very specific business sectors. For example, Koreans are 40 times more likely than other immigrants to operate dry cleaning shops, and Gujarati-speaking Indians are 70 times more likely to manage motels. We develop a model of social interactions where relationships facilitate the acquisition of sector-specific skills. The resulting scale economies generate occupational…Link

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Introduction: US High-Skilled Immigration in the Global Economy

Introduction: US High-Skilled Immigration in the Global Economy. William Kerr, July 2015, Paper. “Immigrants account for approximately a quarter of all US Science and Engineering (S&E) workers with bachelors educations, and yet there have been at most a few dozen detailed academic studies that examine the link of immigration and innovation in the United States. High-skilled immigrants represent an increasing share of the US workforce, particularly in science and engineering S&E fields. Foreign-born individuals account for nearly 28% of doctorate-level workers in the United States and more than 45% of those with PhDs employed in S&E fields…” Link

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Entrepreneurship and Urban Growth: An Empirical Assessment with Historical Mines

Entrepreneurship and Urban Growth: An Empirical Assessment with Historical Mines. Edward L. Glaeser, William R. Kerr, May 2015, Paper. “We study entrepreneurship and growth through the lens of U.S. cities. Initial entrepreneurship correlates strongly with urban employment growth, but endogeneity bedevils interpretation. Chinitz (1961) hypothesized that coal mines near cities led to specialization in industries, like steel, with significant scale economies and that those big firms subsequently damped entrepreneurship across several generations. Proximity to historical mining deposits is associated with reduced…” Link

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