 So my study is about the link between taxation and innovation. What we do is to look systematically over the whole 20th century at the effects of personal and corporate income taxes on innovation in the US. And we do this at three levels. One is on individual inventors. The other is on firms that do R&D. And the third is at the macro state level in the US. So the major contribution of the paper is to produce three completely new data sets that did not exist before. One is the panel of all US inventors since the beginnings of the patent office that we digitized and turned into a panel in which you can follow inventors over time. The second is the panel of all R&D labs of companies in the US with their associated research employment and matched to their patents. And the third is a corporate state level database that gives us all the corporate state level taxes in the US. And so what we find is that innovation is negatively affected by corporate and personal income taxes. And that's true for the quantity of innovation, for the quality of it as measured by citations, and also in terms of the number of inventors who move or live in a given state. And the dampening force is here. So it's not only taxes that matter. Another thing that's a very important factor for innovation is agglomeration effects, which means how many people work in your field in a given place that tends to actually dampen your response to taxes. So that's something you care about, and that will mitigate your response to taxes.