Innovation vs. imitation and the evolution of productivity distributions

• 成果类型: Article
• 署名作者: Koenig, Michael D.; Lorenz, Jan; Zilibotti, Fabrizio
• 署名单位: University of Zurich; Constructor University
• 刊物名称: THEORETICAL ECONOMICS
• ISSN/ISSBN: 1933-6837
• DOI: 10.3982/TE1437
• 发表日期: 2016-09-01
• 页码: 1053-1102
• 关键词: imitation; INNOVATION; GROWTH; quality ladder; absorptive capacity; productivity differences; spillovers

摘要

We develop a tractable dynamic model of productivity growth and technology spillovers that is consistent with the emergence of real world empirical productivity distributions. Firms can improve productivity by engaging in in-house research and developmenmt (R&D) or, alternatively, by trying to imitate other firms' technologies, subject to the limits of their absorptive capacities. The outcome of both strategies is stochastic. The choice between in-house R&D and imitation is endogenous, and is based on firms' profit maximization motive. Firms closer to the technological frontier face fewer imitation opportunities, and choose in-house R&D, while firms farther from the frontier try to imitate more productive technologies. The resulting balanced-growth equilibrium features persistent productivity differences even when starting from ex ante identical firms. The long-run productivity distribution can be described as a traveling wave with tails following a Pareto distribution as can be observed in the empirical data.