We propose a new measure of the economic importance of each innovation. Our measure uses newly collected data on … suggests that technological innovation accounts for significant medium-run fluctuations in aggregate economic growth and TFP …

innovation. We identify significant patents based on textual similarity of a given patent to previous and subsequent work: these … aggregate, sectoral, and firm level. Our technology indices span two centuries (1840-2010) and cover innovation by private and …

of creative destruction, we draw a distinction between technological innovation advanced by the firm, or its competitors …. Using administrative data from the United States, we find that own firm innovation is associated with a modest increase in … worker earnings growth, while innovation by competing firms is related to lower future worker earnings. Importantly, these …

-employee matched income data from the United States. Results suggest innovation is associated with a substantial increase in the labor …