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This paper presents a firm and market model that is able to reproduce the empirically observed patterns on firm growth and its statistical characteristics. It goes beyond the existing firm models by reproducing all stylized facts established in the literature. Furthermore, the model is flexible...
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In this work, we explore the relations between sales growth and a set of innovation indicators that capture the … different sources, modes and results of the innovative activity undertaken within firms. We exploit a rich panel on innovation …-2011. Standard GMM-panel estimates of the average effect of innovation activities reveal significant and positive effect for internal …
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