This paper presents findings from a census of more than 79,000 stock-keeping units (SKUs) in 37 consumer packaged goods categories totaling $55 billion in annual revenue. It shows that, in 86% of product categories, the relationship between market share and retail distribution is increasing and...

A national-champions-related industrial policy has become (again) en vogue among European politicians. Against this background, our work orders different types of national champions along the industry lifecycle. Different types of locally bound externalities appear along the lifecycle. In a...

This article elaborates a dynamic rationale of industrial policy, focusing on how to strengthen the socio-economic system's ability to evolve, i.e. how to achieve high real income together with qualitative change. It highlights that the ubiquitous rationalities of failure, be it of markets,...

Korean Abstract: 글로벌 금융위기 이후 정부의 산업 및 금융정책이 재조명되는 상황에서 제4차 산업혁명을 이끌 혁신기업 지원을 위한 정부의 역할에 대한 관심이 고조되고 있다. 본고는 정부의 산업정책에 대한 연구결과를...

A national-champions-related industrial policy has become (again) en vogue among European politicians. Against this background, our work orders different types of national champions along the industry lifecycle. Different types of locally bound externalities appear along the lifecycle. In a...

Industrial policy has a bad name. It is commonly identified with policies directed to prevent competition and to pick winners (or save losers) in a discretionary fashion. The recent economic and financial crises have shown that governments lack of policy instruments to enhance growth and help...

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...

This paper introduces a new framework to characterize the diversity of public policies and interventions to spur investment and growth. Going beyond ideological cleavages on this topic, we argue that two orthogonal features determine how much interventions depart fundamentally from neutral...

This paper develops a model of trade and industrial policy where the politicians in charge of the government can direct the rents generated by their policies toward their political or economic objectives through different channels: lobbying, taxation, regulation, and tariff and quota allocation....

This paper considers a theoretical model of n asymmetric firms that reduce their initial unit costs by spending on R&D activities. In accordance with Schumpeterian hypotheses we obtain that more efficient (bigger) firms spend more in R&D and this leads to a more concentrated market structure. We...