Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/90829 
Erscheinungsjahr: 
1999
Schriftenreihe/Nr.: 
IFS Working Papers No. W99/25
Verlag: 
Institute for Fiscal Studies (IFS), London
Zusammenfassung: 
We present a model of endogenous Ųm growth with R&D investment and stochastic innovation as the engines of growth. The model for Ųm growth is a partial equilibrium model drawing on the quality ladder models in the macro growth literature, but also on the literature on patent races and the discrete choice models of product diĥrentiation. We examine to what extent the assumptions and the empirical content of our model are consistent with many of the the Ůdings that have emerged from empirical studies of growth, productivity, R&D and patenting at the Ųm level. The analysis shows that the model Ŵs well with a number of empirical patterns such as (i) a skewed size distribution of Ųms with persistent diĥrences in Ųm sizes, (ii) Ųm growth independent of Ųm size, as stated in the so-called Gibrat's law, and (iii) R&D investment proportional to sales.
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