This paper uses over two years of weekly scanner data from two small US cities to characterize time and state dependence of grocers’ pricing decisions. In these data, the probability of a nominal adjustment declines with the time since the last price change even after controlling for heterogeneity across store-product cells and replacing sale prices with regular prices. We also detect state dep...

А number of ribosomal proteins inEscherichia coliundergo posttranslational modifications. Six ribosomal proteins are methylated (S11, L3, L11, L7/L12, L16, and L33), three proteins are acetylated (S5, S18, and L7), and protein S12 is methylthiolated. Extra amino acid residues are added to protein S6. С-terminal amino acid residues are partially removed from protein L31. The functional significa...

The sources of aggregate productivity growth are explored using detailed data for four-digit U.S. manufacturing industries during 1958-96 and a decomposition formula which allows to quantify the contribution of structural change. Labor productivity as well as total factor productivity are considered and the aggregation is performed with either value-added or employment shares. It is shown that ...

In this paper we aim at studying to what extent spillovers between firms may foster economic growth. The attention is addressed to the spillovers connected with the R&D activity that improves the quality of the goods firms supply. Our model develops a growth theory framework and we assume that firms spread around a circle. Our study assesses that spillovers between neighbors affect the probabil...

In this study, I examine immaterial property rights in an economy where R&D firms innovate and imitate and households face nondiversifiable risk. Some property rights postpone the expected time an innovation will be imitated (e.g. increase the “length” of an innovation), while the others protect the imitator’s profits after a successful imitation (i.e. increase the “width” of an innovation). Th...

We construct a model where the equilibrium organization of firms changes as an economy approaches the world technology frontier. In vertically integrated firms, owners (managers) have to spend time both on production and innovation activities, and this creates managerial overload, and discourages innovation. Outsourcing of some production activities mitigates the managerial overload, but create...

Extraction with 2 M lithium chloride removes a group of proteins (LiC1 SP) from 50S ribosomal subunits. Both the LiC1 SP and the resulting cores, which contain the remaining proteins as well as 5S and 23S RNA, lack peptidyl transferase activity, as measured by the "fragment reaction". Activity can be restored to the LiC1 cores by reconstitution with LiC1 SP under conditions of high temperature ...

Large labs may spawn spin-outs caused by innovations deemed unrelated to the firm’s overall business. Small labs generate demand for specialized services that lower entry costs for others. We develop a theoretical framework to study the interplay of these two localized externalities and their impact on regional innovation. We examine MSA-level patent data during the period 1975-2000 and find th...

Why are some regions more innovative than others? We examine within– and across–region variation in the coexistence of large and small labs. Large labs may spawn spin-outs caused by innovations deemed unrelated to the firm’s overall business. Small labs generate demand for specialized services that lower entry costs for others. We develop a theoretical framework to study the interplay of these ...

In this paper a formal model of the productivity dynamics of manufacturing industries is developed with key features being the absence of optimal decisions and equilibrium coordination, heterogeneity of industries with respect to their innovative ability and cumulativeness of innovations together with the working of spillover effects. From that model the law of motion of the productivity distri...