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Kortum, Samuel

Works: 46 works in 297 publications in 1 language and 1,658 library holdings
Roles: Author, Honoree
Classifications: HB1, 330.072
Publication Timeline
Publications about Samuel Kortum
Publications by Samuel Kortum
Most widely held works about Samuel Kortum
Most widely held works by Samuel Kortum
Engines of growth : domestic and foreign sources of innovation by Jonathan Eaton( Book )
18 editions published in 1995 in English and held by 92 libraries worldwide
We examine productivity growth since World War II in the five leading research economies: West Germany, France, the United Kingdom, Japan, and the United States. Available data on the capital-output ratio suggest that these countries grew as they did because of their ability to adopt more productive technologies, not because of capital deepening per se. We present a multicountry model of technological innovation and diffusion which has the implication that, for a wide range of parameter values, countries converge to a common growth rate, with relative productivities depending on the speed with which countries adopt technologies developed at home and abroad. Using parameter values that fit a cross section of data on productivity, research, and patenting, we simulate the growth of the five countries, given initial productivity levels in 1950 and research efforts in the subsequent four decades. Based on plausible assumptions about 'technology gaps' that existed among these countries in 1950 we can explain their growth experiences quite successfully. Specifically, the simulations capture the magnitude of the slowdown in German, French, and Japanese productivity growth and the relative constancy of U.K. and U.S. growth
International patenting and technology diffusion by Jonathan Eaton( Book )
21 editions published in 1994 in English and held by 87 libraries worldwide
We model the invention of new technologies and their diffusion across countries. Our model predicts that, eventually, all countries will grow at the same rate, with each country's productivity ranking determined by how rapidly it adopts inventions. The common growth rate depends on research efforts in all countries, while research effort is determined by how much inventions earn at home and abroad. Patents affect the return to invention. We relate the decision to patent an invention internationally to the cost of patenting in a country and to the expected value of patent protection in that country. We can thus infer the direction and magnitude of the international diffusion of technology from data on international patenting, productivity, and research. We fit the model to data from the five leading research economies. The parameters indicate how much technology flows between these countries and how much each country earns from its inventions domestically and elsewhere. Our results imply that foreign countries are important sources of technology even though countries earn most of their return to innovation at home. For example, about half of U.S. productivity growth derives from foreign technology yet U.S. investors earn 98 per cent of the revenue from their inventions domestically
Trade in ideas : patenting and productivity in the OECD by Jonathan Eaton( Book )
18 editions published between 1995 and 1997 in English and held by 86 libraries worldwide
We develop and estimate a model of technological innovation and its contribution to growth at home and abroad. International patents indicate where innovations come from and where they are used. Countries grow at a common steady-state rate. A country's relative productivity depends upon its capacity to absorb technology. We estimate that, except for the United States, OECD countries derive almost all of their productivity growth from abroad
Technology and bilateral trade by Jonathan Eaton( Book )
19 editions published between 1996 and 1997 in English and held by 78 libraries worldwide
We develop a Ricardian model to explore the role of trade in spreading the benefits of" innovation. The theory delivers an equation for bilateral trade that gravity specification, but identifies underlying parameters of technology. We estimate the" equation using trade in manufactures among the OECD. The parameter estimates allow us to" simulate the model to investigate the role of trade in spreading the benefits of innovation and to" examine the effects of lower trade barriers. Typically foreigners benefit by only a tenth as much" as the innovating country, but in some cases the benefits to close neighbors approach those of the" innovator
Innovating firms and aggregate innovation by Tor Jakob Klette( Book )
22 editions published in 2002 in English and held by 77 libraries worldwide
We develop a parsimonious model of innovating firms rich enough to confront firm-level evidence. It captures the dynamic behavior of individual heterogenous firms, describes the evolution of an industry with simultaneous entry and exit, and delivers a general equilibrium model of technological change. While unifying the theoretical analysis of firms, industries, and the aggregate economy, the model yields insights into empirical work on innovating firms. It accounts for the persistence over time of firms' R & D investment, the concentration of R & D among incumbent firms, and the link between R & D and patenting. Furthermore, it explains why R & D as a fraction of revenues is strongly related to firm productivity yet largely unrelated to firm size or growth
European technology policy by Jonathan Eaton( Book )
14 editions published between 1998 and 1999 in English and held by 71 libraries worldwide
European countries do less research than Japan and the United States. We use a quantitative multi-country growth model to ask: (i) Why is this so? (ii) Would there be any benefit to expanding research in Europe? (iii) What would various European research promotion policies do? We find that (i) Europe's lower research effort has more to do with the smaller markets facing European inventors than with lower research productivity. (ii) Europe has substantial research potential in that increased research effort in most European countries generates bigger income benefits there than increased effort in the United States and Japan of equivalent amounts. (iii) Policies to stimulate research in Europe raise productivity not only there but elsewhere. But a problem with pursuing these policies at the national level is the potential for free riding. A second possible problem with promoting research is distributional: While all countries within the European Union benefit, the countries that are already best at doing research, which tend to be the richer members, fare best. The benefits of policies that facilitate the adoption of innovations are more evenly spread
Does venture capital spur innovation? by Samuel Kortum( Book )
14 editions published between 1998 and 1999 in English and held by 69 libraries worldwide
While policymakers often assume venture capital has a profound impact on innovation, that premise has not been evaluated systematically. We address this omission by examining the influence of venture capital on patented inventions in the United States across twenty industries over three decades. We address concerns about causality in several ways, including exploiting a 1979 policy shift that spurred venture capital fundraising. We find that the amount of venture capital activity in an industry significantly increases its rate of patenting. While the ratio of venture capital to R & D has averaged less than 3% in recent years, our estimates suggest that venture capital accounts for about 15% of industrial innovations. We address concerns that these results are an artifact of our use of patent counts by demonstrating similar patterns when other measures of innovation are used in a sample of 530 venture-backed and non-venture-backed firms
Environmental change and hedonic cost functions for automobiles by Steven Berry( Book )
12 editions published between 1995 and 1996 in English and held by 62 libraries worldwide
This paper focuses on how changes in the economic and regulatory environment have affected production costs and product characteristics in the automobile industry. We estimate cost functions characteristics. Then we examine how this cost surface has changed over time and how these changes relate to changes in gas prices and in emission standard regulations. We also briefly consider the related questions of how changes in automobile characteristics, and in the rate of patenting, are related to regulations and gas prices
Stronger protection or technological revolution : what is behind the recent surge in patenting? by Samuel Kortum( Book )
13 editions published in 1997 in English and held by 62 libraries worldwide
We investigate the cause of an unprecedented surge of U.S. patenting over the past decade. Conventional wisdom points to the establishment of the Court of Appeals of the Federal Circuit by Congress in 1982. We examine whether this institutional change, which has benefited patent holders, explains the burst in U.S. patenting. Using both international and domestic data on patent applications and awards, we conclude that the evidence is not favorable to the conventional view. Instead, it appears that the jump in patenting reflects an increase in U.S. innovation spurred by changes in the management of research
A model of research, patenting, and productivity growth by Samuel Kortum( Book )
10 editions published in 1994 in English and held by 56 libraries worldwide
Trade in capital goods by Jonathan Eaton( Book )
15 editions published between 2000 and 2001 in English and held by 55 libraries worldwide
Abstract: Innovative activity is highly concentrated in a handful of advanced countries. These same countries are also the major exporters of capital goods to the rest of the world. We develop a model of trade in capital goods to assess its role spreading the benefits of technological advances. Applying the model to data on production and bilateral trade in capital equipment, we estimate the barriers to trade in equipment. These estimates imply substantial differences in equipment prices across countries. We attribute about 25 percent of cross-country productivity differences to variation in the relative price of equipment, about half of which we ascribe to barriers to trade in equipment
Dissecting trade : firms, industries, and export destinations by Jonathan Eaton( Book )
13 editions published between 2003 and 2004 in English and held by 49 libraries worldwide
We examine entry across 113 national markets in 16 different industries using a comprehensive data set of French manufacturing firms. The data are unique in indicating how much each firm exports to each destination. Looking across all manufacturers: (1) Firms differ substantially in export participation, with most selling only at home; (2) The number of firms selling to multiple markets falls off with the number of destinations with an elasticity of -2.5; (3) Decomposing French exports to each destination into the size of the market and French share, variation in market share translates nearly completely into firm entry while about 60 percent of the variation in market size is reflected in firm entry. Looking within each of 16 industries we find little variation in these patterns. We propose that any successful model of trade and market structure must confront these facts
Are all patent examiners equal? : the impact of characteristics on patent statistics and litigation outcomes by Iain Cockburn( Book )
9 editions published in 2002 in English and held by 47 libraries worldwide
Innovation, diffusion, and trade by Jonathan Eaton( Book )
10 editions published in 2006 in English and held by 22 libraries worldwide
We explore the determinants of research specialization across countries and its consequences for relative wages. Using a dynamic Ricardian model we examine the effects of faster international technology diffusion and lower trade barriers on the incentive to innovate. In the absence of any diffusion at all, countries devote the same share of resources toward research regardless of trade barriers or research productivity. As long as trade barriers are not too high, faster diffusion shifts research activity toward the country that does it better. This shift in research activity raises the relative wage there. It can even mean that, with more diffusion, the country better at research ends up with a larger share of technologies in its exclusive domain
An anatomy of international trade : evidence from French firms by Jonathan Eaton( Book )
16 editions published between 2008 and 2009 in English and held by 21 libraries worldwide
We examine the sales of French manufacturing firms in 113 destinations, including France itself. Several regularities stand out: (1) the number of French firms selling to a market, relative to French market share, increases systematically with market size; (2) sales distributions are very similar across markets of very different size and extent of French participation; (3) average sales in France rise very systematically with selling to less popular markets and to more markets. We adopt a model of firm heterogeneity and export participation which we estimate to match moments of the French data using the method of simulated moments. The results imply that nearly half the variation across firms that we see in market entry can be attributed to a single dimension of underlying firm heterogeneity, efficiency. Conditional on entry, underlying efficiency accounts for a much smaller variation in sales in any given market. Parameter estimates imply that fixed costs eat up a little more than half of gross profits. We use our results to simulate the effects of a counterfactual decline in bilateral trade barriers on French firms. While total French sales rise by around US$16 billion, sales by the top decile of firms rise by nearly US$23 billion. Every lower decile experiences a drop in sales, due to selling less at home or exiting altogether
Unbalanced trade by Robert Dekle( Book )
9 editions published in 2007 in English and held by 18 libraries worldwide
We incorporate trade imbalances into a quantitative model of bilateral trade in manufactures, dividing the world into forty countries. Fitting the model to 2004 data on GDP and bilateral trade we calculate how relative wages, real wages, and welfare would differ in a counterfactual world with all current accounts balancing. Our results indicate that closing the current accounts requires modest changes in relative wages. The country with the largest deficit (the United States) needs its wage to fall by around 10 percent relative to the country with the largest surplus (Japan). But the prevalence of nontraded goods means that the real wage in Japan barely rises while the U.S. real wage falls by less than 1 percent. The geographic barriers implied by the current pattern of trade are sufficiently asymmetric that large bilateral deficits remain even after current accounts balance. The U.S. manufacturing trade deficit with China falls to $65 billion from its 2004 level of $167 billion
Research and productivity growth : theory and evidence from patent data by Samuel Kortum( Book )
4 editions published in 1995 in English and held by 15 libraries worldwide
Global rebalancing with gravity : measuring the burden of adjustment by Robert Dekle( Book )
8 editions published in 2008 in English and held by 13 libraries worldwide
We use a forty-two country model of production and trade to assess the implications of eliminating current account imbalances for relative wages, relative GDP's, real wages, and real absorption. How much relative GDP's need to change depends on flexibility of two forms: factor mobility and the adjustment in sourcing of imports, with more flexibility requiring less change. At the extreme, US GDP falls by 30 percent relative to the world's. Because of the pervasiveness of nontraded goods, however, most domestic prices move in parallel with relative GDP, so that changes in real GDP are small
International trade : linking micro and macro by Jonathan Eaton( Book )
6 editions published in 2012 in English and held by 7 libraries worldwide
A recent literature has introduced heterogeneous firms into models of international trade. This literature has adopted the convention of treating individual firms as points on a continuum. While the continuum offers many advantages this convenience comes at some cost: (1) Shocks to individual firms can never have an aggregate effect. (2) It is hard to reconcile the small (sometimes zero) number of firms engaged in selling from one country to another with a continuum. (3) For such models to deliver finite solutions for aggregates, such as the price index, requires restrictions on parameter values that may not hold in the data. We show how a standard heterogeneous-firm trade model can be amended to allow for only an integer number of firms. The model overcomes the deficiencies of the continuum model enumerated above. Taking the model to aggregate data on bilateral trade in manufactures among 92 countries and to firm-level export data for a much narrower sample shows that it accounts for both the large share of a small number of firms in sales around the world and for zeros in bilateral trade data while maintaining the good fit of the standard gravity equation among country pairs with thick trade volumes. Randomness at the firm level adds substantially to aggregate variability -- National Bureau of Economic Research web site
Trade and the global recession by Jonathan Eaton( Book )
6 editions published between 2010 and 2011 in English and held by 1 library worldwide
Abstract: Global trade fell 30 percent relative to GDP during the Great Recession of 2008-2009. Did this collapse result from factors impeding international transactions or did it simply reflect the greater severity of the recession in highly traded sectors? We answer this question with detailed international data, interpreted within a general-equilibrium trade model. Counterfactual simulations of the model show that a shift in spending away from manufactures, particularly durables, accounts for more than 80 percent of the drop in trade/GDP. Increased trade impediments reduced trade in some countries, but globally the impact of these changes largely cancels out
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Associated Subjects
Automobile industry and trade--Environmental aspects Balance of trade Balance of trade--Econometric models Capital investments Capital productivity Commerce Developing countries Diffusion of innovations Diffusion of innovations--Econometric models Diffusion of innovations--Economic aspects Eaton, Jonathan, Economics Environmental law--Compliance costs Europe Exports Exports--Econometric models France Gross domestic product Industrial efficiency Industrial equipment industry Industrial productivity Industrial productivity--Econometric models Industrial productivity--Effect of technological innovations on Industrial productivity--Effect of technological innovations on--Econometric models Industrial productivity--Mathematical models Intellectual property International business enterprises--Research International trade International trade--Econometric models Kortum, Samuel Labor productivity--Econometric models Management Manufacturing industries--Econometric models Patent laws and legislation Patents and government-developed inventions Patents--Econometric models Patents--Economic aspects--Mathematical models Research, Industrial Research, Industrial--Econometric models Research, Industrial--Economic aspects--Mathematical models Research, Industrial--Mathematical models Research--Econometric models Technological innovations Technological innovations--Economic aspects--Mathematical models Technology transfer Technology transfer--Econometric models United States United States.--Patent and Trademark Office Venture capital--Econometric models Wages--Econometric models
Alternative Names
Kortum, Sam 1960-
Kortum, Samuel S. 1960-
English (259)
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