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Erscheinungsjahr: 
2007
Schriftenreihe/Nr.: 
Jena Economic Research Papers No. 2007,108
Verlag: 
Friedrich Schiller University Jena and Max Planck Institute of Economics, Jena
Zusammenfassung: 
We formulate a model that explicitly separates two functions in the innovation process: The introduction of new goods and the quality improvement of existing goods. While the latter is performed by the corporate R&D sector, the first is performed by entrepreneurs. We show that in a three sector economy, which also includes a producing sector, there exists a stable non trivial allocation of labor to production, innovation and entrepreneurship. We compute the steady state allocation of labor to production, R&D and Entrepreneurship. We show that the innovation rate decreases if one of the innovative sectors does not exist.
Schlagwörter: 
Innovation
Variety Expansion
Quality Ladders
Entrepreneurship
R&D Sector
JEL: 
O31
O41
Dokumentart: 
Working Paper

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