Acemoglu, Daron; Akcigit, Ufuk; Bloom, Nicholas; Kerr, … - London School of Economics (LSE) - 2013
We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A key feature is the selection between high- and low-type firms, which differ in terms of their innovative capacity. We estimate the parameters of the model using detailed US...