Bester, Helmut; Milliou, Chrysovalantou; Petrakis, Emmanuel - Volkswirtschaftliche Fakultät, … - 2009
This paper studies the innovation dynamics of an oligopolistic industry. The firms compete not only in the output … productivity dependent wage differentials. Productivity growth creates intertemporal spill-over effects, which affect the … incentives for innovation at subsequent dates. Over time the industry equilibrium approaches a steady state. The paper …