1 option
Innovating Firms and Aggregate Innovation / Tor Jakob Klette, Samuel Kortum.
- Format:
- Book
- Author/Creator:
- Klette, Tor Jakob.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w8819.
- NBER working paper series no. w8819
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2002.
- Summary:
- We develop a parsimonious model of innovating firms rich enough to confront firm-level evidence. It captures the dynamic behavior of individual heterogenous firms, describes the evolution of an industry with simultaneous entry and exit, and delivers a general equilibrium model of technological change. While unifying the theoretical analysis of firms, industries, and the aggregate economy, the model yields insights into empirical work on innovating firms. It accounts for the persistence over time of firms' R&D investment, the concentration of R&D among incumbent firms, and the link between R&D and patenting. Furthermore, it explains why R&D as a fraction of revenues is strongly related to firm productivity yet largely unrelated to firm size or growth.
- Notes:
- Print version record
- February 2002.
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