Growth Through Heterogeneous Innovations

Released on by Ufuk Akcigit
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  • Growth Through Heterogeneous Innovations Book Detail

  • Author : Ufuk Akcigit
  • Release Date : 2015
  • Publisher :
  • Genre :
  • Pages : 54
  • ISBN 13 :
  • File Size : 6,6 MB
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Growth Through Heterogeneous Innovations by Ufuk Akcigit PDF Summary

Book Description: 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&D versus internal R&D, and the resulting predictions align with observed empirical regularities for innovative firms. Quantifying a generalized model for the recent U.S. economy using matched Census Bureau and patent data, we observe a modest departure for external R&D from perfect scaling frameworks.

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Growth Through Heterogeneous Innovations

Growth Through Heterogeneous Innovations

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We study how external versus internal innovations promote economic growth through a tractable endogenous growth framework with multiple innovation sizes, multi-