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time. Otherwise, it will gradually reduce its innovation effort over time and ultimately terminate production. Productivity …
Persistent link: https://www.econbiz.de/10005067455
By choosing their organizations, firms trade-off productive efficiency and time spent in implementing innovation. We …
Persistent link: https://www.econbiz.de/10005067458
During technological revolutions, stock prices of innovative firms tend to exhibit high volatility and bubble-like patterns, which are often attributed to investor irrationality. We develop a general equilibrium model that rationalizes the observed price patterns. The high volatility results...
Persistent link: https://www.econbiz.de/10005067467
Technological progress takes the form of improvements in the quality of an array of intermediate inputs to production. In an equilibrium that is standard in the literature, all research is carried out by outsiders, and success means that the outsider replaces the incumbent as the industry...
Persistent link: https://www.econbiz.de/10005067489
We consider an endogenous growth model that includes international trade in capital goods. The model yields several distinct balanced growth solutions that can be classified using stability under adaptive learning. Some of the equilibria can involve growth rates much higher (or lower) than...
Persistent link: https://www.econbiz.de/10005067638
This paper investigates the impact of innovation on employment using a panel of UK manufacturing firms and a headcount … bargaining models. It also argues that the innovation effect can be used to distinguish between shirking models and union … bargains. Innovation is found to have positive effect on company employment raising it by 9--12% in the short run and up to 40 …
Persistent link: https://www.econbiz.de/10005067666
This Paper empirically tests the ‘bounds approach’ to industry structure proposed by Sutton ((1991), (1998)). To carry out this task, we focus on the chemical industry. Part of the novelty in this exercise is that we work on the finest possible level of disaggregation. Also, we identify...
Persistent link: https://www.econbiz.de/10005656233
innovation to the financiers through patenting and prototyping activities, right in the early stages of the venture. We build a …
Persistent link: https://www.econbiz.de/10005656288
favourable for innovation incentives. This is consistent with empirical evidence, suggesting that countries with a more equal …
Persistent link: https://www.econbiz.de/10005656323
This Paper develops a framework for testing discrete complementarities in innovation policy using European data on … obstacles to innovation. We propose a discrete test of supermodularity in innovation policy leading to a number of inequality … constraints. We apply our test to two types of innovation decisions: to innovate or not, and if so, by how much. We find that …
Persistent link: https://www.econbiz.de/10005661425