A Structural Empirical Model of R&D, Firm Heterogeneity, and Industry Evolution*

IF 1.7 4区经济学 Q3 BUSINESS, FINANCE

Journal of Industrial Economics Pub Date : 2023-07-05 DOI:10.1111/joie.12327

Yanyou Chen, Daniel Yi Xu

引用次数: 8

Abstract

This article develops and estimates an industry equilibrium model of the Korean electric motor industry from 1991 to 1996. Plant-level decisions on R&D, physical capital investment, entry, and exit are integrated in a dynamic setting with knowledge spillovers. We apply the novel approximation of oblivious equilibrium to estimate the R&D cost, magnitude of knowledge spillovers, adjustment costs of physical investment, and plant scrap value distribution. Knowledge spillovers are essential to explaining the firm-level productivity evolution and the equilibrium market configuration. A $15 %$ R&D subsidy maximizes industry output and is broadly consistent with a past policy initiative of the Korean government.

查看原文本刊更多论文

R&D、企业异质性与产业演化的结构实证模型*

本文建立并估计了1991-1996年韩国电机行业的行业均衡模型。工厂层面的R&；D、实物资本投资、进入和退出是在一个具有知识溢出的动态环境中整合的。我们应用遗忘平衡的新近似来估计R&；D成本、知识溢出的幅度、实物投资的调整成本和工厂废料价值分布。知识溢出对于解释企业层面的生产率演化和均衡市场配置至关重要。15%%$15\%%$R&；D补贴最大限度地提高了行业产出，与韩国政府过去的政策举措大体一致。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Journal of Industrial Economics Multiple-

CiteScore

1.60

自引率

0.00%

发文量

期刊介绍： First published in 1952, the Journal of Industrial Economics has a wide international circulation and is recognised as a leading journal in the field. It was founded to promote the analysis of modern industry, particularly the behaviour of firms and the functioning of markets. Contributions are welcomed in all areas of industrial economics including: - organization of industry - applied oligopoly theory - product differentiation and technical change - theory of the firm and internal organization - regulation - monopoly - merger and technology policy Necessarily, these subjects will often draw on adjacent areas such as international economics, labour economics and law.