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3D-PCA : Factor Models with Restrictions

Lettau, Martin - National Bureau of Economic Research - 2024

This paper proposes latent factor models for multidimensional panels called 3D-PCA. Factor weights are constructed from a small set of dimension-specific building blocks, which give rise to proportionality restrictions of factor weights. While the set of feasible factors is restricted, factors...

Persistent link: https://www.econbiz.de/10014512115

High-Dimensional Factor Models and the Factor Zoo

Lettau, Martin - National Bureau of Economic Research - 2023

This paper proposes a new approach to the "factor zoo" conundrum. Instead of applying dimension-reduction methods to a large set of portfolios obtained from sorts on characteristics, I construct factors that summarize the information in characteristics across assets and then sort assets into...

Persistent link: https://www.econbiz.de/10014372475

Tech Clusters

Kerr, William R. - 2020

Tech clusters like Silicon Valley play a central role for modern innovation, business competitiveness, and economic …

Persistent link: https://www.econbiz.de/10012481616

Innovation Spillovers across U.S. Tech Clusters

Giroud, Xavier; Liu, Ernest; Müller, Holger M. - National Bureau of Economic Research - 2024

through their parent firms' networks of innovating plants. Cross-cluster innovation spillovers do not depend on the physical … physical distances. To rationalize these findings, and to inform policy, we develop a tractable model of spatial innovation … that features both within- and cross-cluster innovation spillovers. Based on our model, we derive a sufficient statistic …

Persistent link: https://www.econbiz.de/10014635640

Industrial Clusters, Networks and Resilience to the Covid-19 Shock in China

Dai, Ruochen - 2020

We examine how exposure of Chinese firms to the Covid-19 shock varied with a cluster index (measuring spatial agglomeration of firms in related industries) at the county level. Two data sources are used: entry flows of newly registered firms in the entire country, and an entrepreneur survey...

Persistent link: https://www.econbiz.de/10012482220

Defining Clusters of Related Industries

Delgado, Mercedes - 2014

Clusters are geographic concentrations of industries related by knowledge, skills, inputs, demand, and/or other linkages. A growing body of empirical literature has shown the positive impact of clusters on regional and industry performance, including job creation, patenting, and new business...

Persistent link: https://www.econbiz.de/10012458291

Clusters, Convergence, and Economic Performance

Delgado, Mercedes - 2012

This paper evaluates the role of regional cluster composition in the economic performance of industries, clusters and regions. On the one hand, diminishing returns to specialization in a location can result in a convergence effect: the growth rate of an industry within a region may be declining...

Persistent link: https://www.econbiz.de/10012460410

Sparse Modeling Under Grouped Heterogeneity with an Application to Asset Pricing

Cong, Lin William; Feng, Guanhao; He, Jingyu; Li, Junye - National Bureau of Economic Research - 2023

Sparse models, though long preferred and pursued by social scientists, can be ineffective or unstable relative to large models, for example, in economic predictions (Giannone et al., 2021). To achieve sparsity for economic interpretation while exploiting big data for superior empirical...

Persistent link: https://www.econbiz.de/10014322811

Knowledge Management, Innovation, and Productivity : A Firm Level Exploration Based on French Manufacturing CIS3 Data

Kremp, Elisabeth - 2004

knowledge acquisition (A), implementing written knowledge management rules (W). The French 1998-2000 Community Innovation Survey …

Persistent link: https://www.econbiz.de/10012468456

Defacto and Deeded Intellectual Property : Knowledge-Driven Co-Evolution of Firm Collaboration Boundaries and IPR Strategy

Zucker, Lynne G. - 2014

Research on intellectual property has focused on formal legally recorded rights that we call deeded, most often measured by granted patents. Meanwhile, other "defacto" IP (mainly purposive secrecy and natural excludability) has become more important because of the increasing closeness of...

Persistent link: https://www.econbiz.de/10012458417

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