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predominant driver behind the differences in the effect of intangible assets and growth opportunities for tech firms in some … to the behavior of high-tech firms with the highest growth opportunities …
Persistent link: https://www.econbiz.de/10013018407
rate of return to investment in innovation between 20% and 75%. …
Persistent link: https://www.econbiz.de/10014475415
Firms often rely on external financing in order to conduct R&D. The question is to what extend discriminatory behaviour of the funds provider affects the industry evolution. The model is based on an evolutionary framework by Nelson and Winter. A firm chooses its R&D spending in an adaptive...
Persistent link: https://www.econbiz.de/10010458501
Firms often rely on external financing in order to conduct R&D. We ask to what extent discriminatory behaviour of the funds provider affects the industry evolution. The model is based on an evolutionary framework by Nelson and Winter. A firm chooses the amount of its R&D spending in an adaptive...
Persistent link: https://www.econbiz.de/10013031554
This paper provides a tractable dynamic stochastic general equilibrium framework with endogenous firm creation and destruction and variable technology utilization to analyze the macroeconomic impact of entry costs and fixed cost subsidies. Based on this setup, we revisit empirical and...
Persistent link: https://www.econbiz.de/10012317396
Persistent link: https://www.econbiz.de/10013261361
current GDP. The presence of capital-saving technical change is shown to imply that the economy's steady-state growth rate is …
Persistent link: https://www.econbiz.de/10003908043
presence of capital-saving technical change is shown to imply that the economy's steady-state growth rate is independent of its …
Persistent link: https://www.econbiz.de/10003923496
We study optimal investment in technologies characterized by the learning curve. There are two investment patterns … scale. If the curve is steep, firms invest earlier and on a smaller scale. We further demonstrate that learning investment … differs greatly from investment in technologies without learning effects. Learning investments generate substantial initial …
Persistent link: https://www.econbiz.de/10013093669
of investment-specific technical change (ISTC); (2) the sensitivity of industry entry and exit rates to cross … of ISTC varies across industries and new investment-specific technologies can be introduced by entrants or by incumbents …
Persistent link: https://www.econbiz.de/10013159161