We develop a new method to measure the importance of a patent for subsequent innovation, based on the use of a Large Language Model to process patent text data and a new model of the innovation process. We apply…
We develop a new method to measure the importance of a patent for subsequent innovation, based on the use of a Large Language Model to process patent text data and a new model of the innovation process. We apply…
In this paper, we study the extent to which ministers engage in regional favoritism. We are the first to provide a comprehensive analysis of a larger set of the governing elite, not just focusing on the primary…
Central bank surveys frequently elicit households’ probabilistic beliefs about future inflation. The responses provide only a coarse picture of inflation beliefs further away from zero. Using data from the…
