Intel economics

• 成果类型: Article
• 署名作者: Segerstrom, Paul S.
• 署名单位: Stockholm School of Economics
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/j.1468-2354.2007.00425.x
• 发表日期: 2007
• 页码: 247-280
• 关键词: research-and-development; endogenous growth; population; imitation; models

摘要

This article presents an endogenous growth model that is designed to be roughly consistent with the experience of high-tech firms like Intel. In the model, industry leaders invest in R&D to improve their products, small firms invest in R&D to become industry leaders, and innovating becomes progressively more difficult over time. Consistent with the empirical evidence, the model implies that economic growth is independent of economy size and R&D intensity is independent of firm size. For plausible parameter values, it is optimal to heavily subsidize R&D activities.