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We construct a model of creative destruction with endogenous firm dynamics. We integrate the theory into a general equilibrium multi-country model of technological convergence where countries interact via international spillovers. We derive implications for both firm dynamics and aggregate...
Persistent link: https://www.econbiz.de/10012660011
China's industrial policies ("Five-Year Plans") displace U.S. production/employment and heighten plant closures in the same industries as those targeted by the policies in China. The impact was not anticipated by the stock market, but U.S. companies in the "treated industries" suffer a valuation...
Persistent link: https://www.econbiz.de/10014544690
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We characterize sabotage, exemplified by recent U.S. policies concerning China's semiconductor industry, as trade policy. For some (but not all) goods, completely destroying foreigners' productivity increases domestic real income by shifting the location of production and improving the terms of...
Persistent link: https://www.econbiz.de/10015056122
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This paper shows that the move to offset printing from letterpress in the U.S. daily newspaper publishing industry was determined, in part, by the structure of the local market. Although in monopoly markets, low circulation papers were quicker to adopt than high circulation papers, the ranking...
Persistent link: https://www.econbiz.de/10012471720
in the United States, we specify a flexible model to capture competition between a plant in a state with carbon pricing …
Persistent link: https://www.econbiz.de/10012479153
We establish four facts concerning competition among U.S. generic drug suppliers, using IQVIA's National Sales … cohorts; (iii) the extent of competition is greatest for the oldest molform cohorts and is smallest for the youngest molform … cohorts. With a median of one competitor, the extent of competition in the youngest molform cohort is very limited; and (iv …
Persistent link: https://www.econbiz.de/10012480138