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作者：KLEMPERER, P
摘要：I suggest a new model of demand for variety that explains. why competing firms may choose very similar product fines: if firms offer different product ranges, some consumers use multiple suppliers to increase variety, and since these consumers' purchases will be sensitive to the difference in firms' prices, the market may be fairly competitive. If, instead, firms offer identical product ranges, each consumer purchases from one firm only, because of costs of using additional suppliers, so the m...
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作者：COHEN, WM; KLEPPER, S
摘要：Using firm data disaggregated by industry, we establish a set of regularities in the distribution of firm R&D intensities within manufacturing industries. We show how a simple probabilistic process, in which chance influences a key unobserved determinant of R&D and firm size conditions the returns to R&D, can account for these regularities and other features of the distributions. The model provides a unified, noncausal explanation of a series of long-observed relationships across mean R&D inte...
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作者：LEVINE, R; RENELT, D
作者单位：Harvard University
摘要：A vast literature uses cross-country regressions to search for empirical linkages between long-run growth rates and a variety of economic policy, political, and institutional indicators. This paper examines whether the conclusions from existing studies are robust or fragile to small changes in the conditioning information set. We find that almost all results are fragile. We do, however, identify a positive, robust correlation between growth and the share of investment in GDP and between the in...
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作者：GROSSMAN, RS
摘要：This paper compares risk-taking of insured and uninsured thrifts operating under strict and less-strict regulatory regimes during the 1930's. Analysis of balance-sheet data indicates that while newly insured thrifts undertook less risk than their uninsured counterparts, possibly because of screening by deposit-insurance authorities, moral hazard emerged gradually. Insured institutions operating under relatively permissive regulatory regimes were more prone to undertake risky lending activities...
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作者：HOON, HT; PHELPS, ES
作者单位：Columbia University
摘要：At the microeconomic level, this paper revises and broadens the theory of the equilibrium rate of unemployment, the natural rate in a monetary model We begin by recreating Salop's turnover model of the natural rate in its naturally intertemporal version. Useful findings on impact effects and the adjustment process at the individual firm, necessarily excluded by the static version, are shown to derive from the dynamized model. At the macroeconomic level, we then provide a general-equilibrium an...
