广告、创新和经济增长

IF 6.3 1区 经济学 Q1 ECONOMICS
Laurent Cavenaile, Pau Roldan-Blanco
{"title":"广告、创新和经济增长","authors":"Laurent Cavenaile, Pau Roldan-Blanco","doi":"10.1257/mac.20180461","DOIUrl":null,"url":null,"abstract":"This paper analyzes the implications of advertising for firm dynamics and economic growth through its interaction with R&D. We develop a model of endogenous growth with firm heterogeneity that incorporates advertising decisions and calibrate it to match several empirical regularities across firm size. Our model provides microfoundations for the empirically observed negative relationship between both firm R&D intensity and growth and firm size. In the calibrated model, about half of the deviation from proportional firm growth is attributed to our novel advertising channel. In addition, R&D and advertising are substitutes, a prediction for which we find evidence in the data. (JEL D22, E23, H25, L25, M37, O32)","PeriodicalId":47991,"journal":{"name":"American Economic Journal-Macroeconomics","volume":"27 3","pages":""},"PeriodicalIF":6.3000,"publicationDate":"2021-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Advertising, Innovation, and Economic Growth\",\"authors\":\"Laurent Cavenaile, Pau Roldan-Blanco\",\"doi\":\"10.1257/mac.20180461\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper analyzes the implications of advertising for firm dynamics and economic growth through its interaction with R&D. We develop a model of endogenous growth with firm heterogeneity that incorporates advertising decisions and calibrate it to match several empirical regularities across firm size. Our model provides microfoundations for the empirically observed negative relationship between both firm R&D intensity and growth and firm size. In the calibrated model, about half of the deviation from proportional firm growth is attributed to our novel advertising channel. In addition, R&D and advertising are substitutes, a prediction for which we find evidence in the data. (JEL D22, E23, H25, L25, M37, O32)\",\"PeriodicalId\":47991,\"journal\":{\"name\":\"American Economic Journal-Macroeconomics\",\"volume\":\"27 3\",\"pages\":\"\"},\"PeriodicalIF\":6.3000,\"publicationDate\":\"2021-06-29\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"American Economic Journal-Macroeconomics\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1257/mac.20180461\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"American Economic Journal-Macroeconomics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1257/mac.20180461","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0

摘要

本文通过广告与研发的互动,分析了广告对企业动态和经济增长的影响。我们开发了一个具有企业异质性的内生增长模型,将广告决策纳入其中,并对其进行校准,以匹配企业规模的几个经验规律。我们的模型为实证观察到的企业研发强度与增长和企业规模之间的负相关关系提供了微观基础。在校正后的模型中,企业比例增长的偏差约有一半归因于我们的新广告渠道。此外,研发和广告是相互替代的,这一预测我们在数据中找到了证据。(jel d22, e23, h25, l25, m37, o32)
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Advertising, Innovation, and Economic Growth
This paper analyzes the implications of advertising for firm dynamics and economic growth through its interaction with R&D. We develop a model of endogenous growth with firm heterogeneity that incorporates advertising decisions and calibrate it to match several empirical regularities across firm size. Our model provides microfoundations for the empirically observed negative relationship between both firm R&D intensity and growth and firm size. In the calibrated model, about half of the deviation from proportional firm growth is attributed to our novel advertising channel. In addition, R&D and advertising are substitutes, a prediction for which we find evidence in the data. (JEL D22, E23, H25, L25, M37, O32)
求助全文
通过发布文献求助,成功后即可免费获取论文全文。 去求助
来源期刊
CiteScore
8.20
自引率
1.70%
发文量
58
期刊介绍: American Economic Journal: Macroeconomics focuses on studies of aggregate fluctuations and growth, and the role of policy in that context. Such studies often borrow from and interact with research in other fields, such as monetary theory, industrial organization, finance, labor economics, political economy, public finance, international economics, and development economics. To the extent that they make a contribution to macroeconomics, papers in these fields are also welcome.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信