Advertising, Innovation, and Economic Growth
نویسندگان
چکیده
This paper analyzes the implications of advertising for firm dynamics and economic growth through its interaction with R&D. We develop a model endogenous heterogeneity that incorporates decisions calibrate it to match several empirical regularities across size. Our provides microfoundations empirically observed negative relationship between both R&D intensity In calibrated model, about half deviation from proportional is attributed our novel channel. addition, are substitutes, prediction which we find evidence in data. (JEL D22, E23, H25, L25, M37, O32)
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ژورنال
عنوان ژورنال: American Economic Journal: Macroeconomics
سال: 2021
ISSN: ['1945-7707', '1945-7715']
DOI: https://doi.org/10.1257/mac.20180461