Climbing Atop the Shoulders of Giants: The Impact of Institutions on Cumulative Research

While the cumulative nature of knowledge is recognized as central to economic growth, the microeconomic foundations of cumulativeness are less understood. This paper investigates the impact of a research-enhancing institution on cumulativeness, highlighting two effects. First, a selection effect may result in a high correlation between "high-quality" institutions and knowledge of high intrinsic quality. Second, an institution may have a marginal impact -- an incremental influence on cumulativeness, conditional on the type and quality of knowledge considered. This paper distinguishes these effects in the context of a specific institution, biological resource centers (BRCs). BRCs are "living libraries" that authenticate, preserve, and offer independent access to biological materials, such as cells, cultures, and specimens. BRCs may enhance the cumulativeness of knowledge by reducing the marginal cost to researchers of drawing on prior research efforts. We exploit three key aspects of the environment in which BRCs operate to evaluate how they affect the cumulativeness of knowledge: (a) the impact of scientific knowledge is reflected in future scientific citations, (b) deposit into BRCs often occurs with a substantial lag after initial research is completed and published, and (c) "lagged" deposits often result from shocks unrelated to the characteristics of the materials themselves. Employing a difference-in-differences estimator linking specific materials deposits to journal articles, we find evidence for both selection effects and the marginal impact of BRCs on the cumulativeness of knowledge associated with deposited materials. Moreover, the marginal impact increases with time and varies with the economic and institutional conditions in which deposit occurs.

The Determinants of National Innovative Capacity

Motivated by differences in R&D productivity across advanced economies, this paper presents an empirical examination of the determinants of country-level production of international patents. We introduce a novel framework based on the concept of national innovative capacity. National innovative capacity is the ability of a country to produce and commercialize a flow of innovative technology over the long term. National innovative capacity depends on the strength of a nation's common innovation infrastructure (cross-cutting factors which contribute broadly to innovativeness throughout the economy), the environment for innovation in its leading industrial clusters, and the strength of linkages between these two areas. We use this framework to guide our empirical exploration into the determinants of country-level R&D productivity, specifically examining the relationship between international patenting (patenting by foreign countries in the United States) and variables associated with the national innovative capacity framework. While acknowledging important measurement issues arising from the use of patent data, we provide evidence for several findings. First, the production function for international patents is surprisingly well-characterized by a small but relatively nuanced set of observable factors, including R&D manpower and spending, aggregate policy choices such as the extent of IP protection and openness to international trade, and the share of research performed by the academic sector and funded by the private sector. As well, international patenting productivity depends on each individual country's knowledge stock.' Further, the predicted level of national innovative capacity has an important impact on more downstream commercialization and diffusion activities (such as achieving a high market share of high-technology export markets). Finally, there has been convergence among OECD countries in terms of the estimated level of innovative capacity over the past quarter century.

Rural Community Participation, Social Networks, and Broadband Use: Examples from Localized and National Survey Data

Although attention has been given to how broadband access is related to economic development in rural areas, scant consideration has been given to how it may be associated with voluntary participation. This issue is important in that numerous studies have shown how much more vital community participation is in rural areas as compared to suburban and urban places. Drawing on three diverse data sets, we examine the influence of broadband access on community participation. In addition, we explore whether broadband access exerts its influence through, in conjunction with, or independent of social networks. The results suggest that broadband access and social network size have independent effects on volunteering in rural places.rural sociology, social networks, broadband, digital inequality, volunteerism, Community/Rural/Urban Development, Research and Development/Tech Change/Emerging Technologies,

Measurements of noise in Josephson-effect mixers

We present new heterodyne receiver results obtained at 100 GHz using resistively-shunted Nb and NbN tunnel junctions. In addition, we have carried out accurate measurements of the available noise power of these devices at the L-band (1.5 GHz) IF frequency. Both the heterodyne and the output noise measurements show that the noise of these devices can be a factor of five or more higher than that predicted by the simple current-biased RSJ model. The noise approaches the appropriate thermal or thermal and shot noise limits for bias voltages where the nonlinearity is not strong (i.e., V>ICRN), but as expected from the RSJ model, can be significantly higher at the low voltages where the mixers are typically biased. The bias voltage dependence of the noise shows structure which is associated with resonances in the RF embedding circuit. Surprisingly, we find that changes in the high-frequency (100 GHz) impedance presented to the junction can dramatically affect the magnitude and voltage dependence of the low-frequency (1.5 GHz) noise. This emphasizes the necessity of very closely matching the junction to free space over a wide frequency range

Analysis of Economic Depreciation for Multi-Family Property

This paper uses a hedonic pricing model and National Council of Real Estate Investment Fiduciaries data to estimate economic depreciation for multi-family real estate. The findings indicate that investment grade multi-family housing depreciates approximately 2.7% per year in real terms based on total property value. This implies a depreciation rate for just the building of about 3.25% per year. With 2% inflation, this suggests a nominal depreciation rate of about 5.25% per year. Converted into a straight-line depreciation rate that has the same present value, this suggests a depreciable life of 30.5 years - as compared to 27.5 years allowed under the current tax laws. Thus, these laws are slightly favorable to multi-family properties by providing a tax depreciation rate that exceeds economic depreciation, which is in part due to inflation that has been less than expected during the past decade.