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- Patent weight 0 .2 .4 .6 .8 1 Inventor weight 67 Figure A6: Simulations over sample period A: CFX B: HHG C: BGVR Notes: These graphs show the simulated evolution of annual clean and dirty patents stocks from 1986 onwards. Prices and other exogenous variables (including time dummies, controls for GDP per capita) are set at their actual values. Own knowledge stocks as well as spillover effects are simulated. The simulated series are therefore directly comparable to the actual knowledge stocks over time, which are also plotted in the graphs.
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- wFP ic0 ln FPct (26) where FPct is the tax-inclusive fuel price in country c at time t and wFP ic0 is the firm-specific weight for country c. In order to make sure that the computed exposures are an exogenous source of variation across firms, the weights are calculated using the patent portfolio of each company over the 1965-1985 “pre-sample†period (with the regressions performed on the 1986-2005 period). We cross check the 1985 cut-off in the robustness section using 1965-1990 as the pre-sample period for weights and 1991-2005 for the regression sample.
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- wS ic0SPILLzct (28) where z ∈ {Dirty, Clean} and SPILLzct is the spillover pool in country c at time t, which can be firm specific (see below). The spillover weight wS ic0 is the share of all firm i’s inventors (i.e. where the inventors worked when they discovered the invention) in country c between 1965 and 1985. This weight differs from the patent-portfolio weight wFP ic0 described above in two ways.
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