Most Popular Books by Erin McGuire

Provides information on job opportunities in the field of graphic arts, discussing educational requirements, specific types of jobs, and the impact of computers on the way graphic artists work.

This riveting picture book biography tells the true story of Rose Valland’s valiant efforts to save thousands of works of art during World War II by becoming a spy in her own museum. Rose Valland loved art. When the Nazis invaded Paris during World War II and took over her beloved museum, Rose could have fled. But who would save the artwork? So, Rose remained and saw how she was underestimated by the soldiers for being a quiet, unassuming woman. She knew it was the time to act. And Rose had a secret weapon: she could speak German. She listened, kept track of all the stolen art, and saved what she could. Rose became a spy. And in the end, she saved thousands of works of art.

Models of creative destruction posit that recessions are periods of reallocation and disruption, generating new ideas that catapult new firms to the frontier. However, empirical evidence suggests that research and development (R&D) expenditures and patenting is procyclical, not counter-cyclical. Using panel data on the quantity and quality of patents for nearly two decades, we provide a resolution to the tension by documenting that the quality of innovation is counter-cyclical: innovations produced during busts have a larger effect on the path of future research than those developed during booms. These results are a function of financial constraints that affect private sector firms most heavily, shifting the concentration of resources and time among R&D workers towards longer-term and basic science research in the public sector during busts. Our results suggest that the ongoing coronavirus pandemic could lead to large innovations in the future.