Schumpeterian hypothesis revisited: on market structure and firms’ R&D

Monetary Policy and Endogenous Market Structure in a Schumpeterian Economy

In this study, we develop a monetary Schumpeterian growth model with endogenous market structure (EMS) to explore the e¤ects of monetary policy on the number of …rms, …rm size, economic growth and social welfare. EMS leads to richer implications and di¤erent results from previous studies in which market structure is exogenous. In the short run, a higher nominal interest rate leads to lower grow...

Market Concentration and Innovation: New Empirical Evidence on the Schumpeterian Hypothesis

This paper conducts a new empirical examination of the Schumpeterian hypothesis that more concentrated industries stimulate innovation. It is found that the lack of evidence for the hypothesized relationship in recent empirical work is largely due to the use of simple patent counts as the measure of innovative output. When citation-weighted patent count, arguably a more accurate measure of inno...

Market Structure Conduct Performance (SCP) Hypothesis Revisited using Stochastic Frontier Efficiency Analysis

Use of efficiency measures as a proxy for performance to test the market structureconduct-performance (SCP) hypothesis is explored. Utilizing Battese and Coelli specification, we estimate stochastic frontier production function and SCP equations with output and efficiency measures as endogenous variables. An empirical application to U.S. trucking carries over the period 1994-2003 with emphasis ...

Patents , R & D subsidies and endogenous market structure in a Schumpeterian economy

This study explores the different implications of patent breadth and R&D subsidies on economic growth and endogenous market structure in a Schumpeterian growth model. We find that when the number of firms is fixed in the short run, patent breadth and R&D subsidies serve to increase economic growth as in previous studies. However, when the number of firms adjusts endogenously in the long run, R&...

Market Structure and Price Adjustment in the Iranian Tea Market