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Business Dynamic Statistics of Innovative Firms

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  • Nathan Goldschlag
  • Elisabeth Perlman

Abstract

A key driver of economic growth is the reallocation of resources from low to high productivity activities. Innovation plays an important role in this regard by introducing new products, services, and business methods that ultimately lead to increased productivity and rising living standards. Traditional measures of innovation, particularly those based on aggregate inputs, are increasingly unable to capture the breadth and depth of innovation in modern economies. In this paper, we describe an effort at the US Census Bureau, the Business Dynamics Statistics of Innovative Firms (BDS-IF) project, which aims to address these challenges by extending the Business Dynamics Statistics data to include new measures of innovative activity. The BDS-IF project will produce measures of firm, establishment, and employment flows by firm age, firm size, and industry for the subset of firms engaged in activities related to innovation. These activities include patenting and trademarking, the employment of STEM workers, and R&D expenditures. The exibility of the underlying data infrastructure allows this measurement agenda to be extended to include copyright activity, management practices, and high growth firms.

Suggested Citation

  • Nathan Goldschlag & Elisabeth Perlman, 2017. "Business Dynamic Statistics of Innovative Firms," Working Papers 17-72, Center for Economic Studies, U.S. Census Bureau.
    • Handle: RePEc:cen:wpaper:17-72
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    File URL: https://www2.census.gov/ces/wp/2017/CES-WP-17-72.pdf
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    References listed on IDEAS

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    Cited by:

    1. Sebastian Doerr, 2019. "Unintended side effects: stress tests, entrepreneurship, and innovation," BIS Working Papers 823, Bank for International Settlements.
    2. Lucia Foster, 2020. "Panel Remarks: Measuring Business Innovation Using a Multidimensional Approach," NBER Chapters, in: The Role of Innovation and Entrepreneurship in Economic Growth, pages 569-575, National Bureau of Economic Research, Inc.

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    Keywords

    Firm dynamics; innovation; Longitudinal Business Database; Business Dynamics Statistics;
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