منابع مشابه
Growth through heterogeneous innovations
We study how external versus internal innovations promote economic growth through a tractable endogenous growth framework with multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in external R&D to acquire new product lines and in internal R&D to improve their existing product lines. A baseline model derives the theoretical implications of weaker scaling for external R&...
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We study how exploration versus exploitation innovations impact economic growth through a tractable endogenous growth framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to acquire new product lines and exploitation R&D to improve their existing product lines. We model and show empirically that exploration R&D does not scale as...
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This paper combines horizontal and vertical innovations to build an endogenous growth model that allows for structural change. Older technologies are continuously replaced by newer ones due to creative destruction and new technologies appear as a result of horizontal innovations and as a result of consumers’ preferences for variety. We assume fixed operational costs for the manufacturing sector...
متن کاملModelling Diffusion of Innovations with Homogeneous and Heterogeneous Populations
Diffusion of innovation can be defined as a system of adoption by which the innovation of a new product or service is spread among the members or agents in a social system. Diffusion models help to forecast the demand and work as a decision aid in making prelaunch, launch and help post-launch strategic choices. This complex system can be approached, in aggregate form, as a function of the numbe...
متن کاملHeterogeneous Innovations, Firm Creation and Destruction, and Asset Prices∗
We study the implications of the creative destruction lifecycle of innovation for asset prices. We develop a general equilibrium model of endogenous firm creation and destruction where “incremental” innovations by incumbents and “radical” innovations by entrants drive the volatility of growth prospects of the economy. Higher entry—bigger threat of displacement of incumbents by entrants—implies ...
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ژورنال
عنوان ژورنال: Journal of Political Economy
سال: 2018
ISSN: 0022-3808,1537-534X
DOI: 10.1086/697901