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Entry, exit, and investment-specific technical change
Samaniego, Roberto M. - In: The American economic review 100 (2010) 1, pp. 164-192
Persistent link: https://www.econbiz.de/10008729196
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Entry, exit and investment-specific technical change
Samaniego, Roberto M. - 2009 - Rev., second version
Persistent link: https://www.econbiz.de/10003854270
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Entry, Exit and Investment-Specific Technical Change, Second Version
Samaniego, Roberto M. - 2009
of investment-specific technical change (ISTC); (2) the sensitivity of industry entry and exit rates to cross … of ISTC varies across industries and new investment-specific technologies can be introduced by entrants or by incumbents …
Persistent link: https://www.econbiz.de/10013159161
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Entry, Exit and Investment-Specific Technical Change
Samaniego, Roberto M. - 2008
Across industries, this paper finds that the rate of investment-specific technical change (ISTC) is positively related … generates lumpy investment as a result of technology adoption by incumbents …
Persistent link: https://www.econbiz.de/10012724701
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Chapter 1. What Do We Learn From Schumpeterian Growth Theory?
Aghion, Philippe; Akcigit, Ufuk; Howitt, Peter - 2014
Schumpeterian growth theory has operationalized Schumpeter’s notion of creative destruction by developing models based on this concept. These models shed light on several aspects of the growth process that could not be properly addressed by alternative theories. In this survey, we focus on...
Persistent link: https://www.econbiz.de/10014025596
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Firm and establishment volatility : the role of sunk costs, profit uncertainty and technological change
Ghosal, Vivek - 2003
The degree of endemic volatility in the number of firms and establishments varies considerably across industries. Examining the within-industry range of variation (max.-min.) of the number of firms over our sample period, the low and high values across U.S. manufacturing industries are 4 and...
Persistent link: https://www.econbiz.de/10011508062
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The Effect of Mean Reversion on Entry and Exit Decisions Under Uncertainty
Tsekrekos, Andrianos E. - 2010
reverting processes are rarely used in investment models in the literature. In most models, geometric Brownian motion processes … investigations of aggregate industry investment …
Persistent link: https://www.econbiz.de/10013150516
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Firm and Establishment Volatility : The Role of Sunk Costs, Profit Uncertainty and Technological Change
Ghosal, Vivek - 2021
The degree of endemic volatility in the number of firms and establishments varies considerably across industries. Examining the within-industry range of variation (max.-min.) of the number of firms over our sample period, the low and high values across U.S. manufacturing industries are 4 and...
Persistent link: https://www.econbiz.de/10013319863
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Finance and TFP Dynamics : The Role of R&D Investment
Chen, Zhiyuan - 2022
This paper investigates the role of R&D investment in shaping the relationship between financial constraints and … aggregate total factor productivity (TFP). I study a dynamic model in which R&D investment, which affects productivity evolution … distorting R&D investment. The accumulation of internal funds reduces the static TFP loss gradually. In contrast, because R&D has …
Persistent link: https://www.econbiz.de/10013309001
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Multi-Market Competition, R&D, and Welfare in Oligopoly
Kawasaki, Akio - 2010
We investigate a multi-market Cournot model with strategic process R&D investments wherein a multi-market monopolist meets entrants that enter one of the markets. We find that entry can enhance the total R&D expenditure of the incumbent firm. That is, entry can stimulate R&D effort. Moreover,...
Persistent link: https://www.econbiz.de/10013137368