| Nº Sistema |
000471548 |
| Autor |
 Cavenaile, Laurent |
| Autor |
Roldán Blanco, Pau |
| Título |
Advertising, innovation and economic growth [Recurso electrónico] / Laurent Cavenaile and Pau Roldan-Blanco. |
| Publicado en |
American Economic Journal: Macroeconomics [Artículos], v. 13, n. 3, July 2021, p. 251–303 |
| Nota general |
Artículo de revista |
| Resumen |
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 micro-foundations 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. [Resumen de la editorial] [eng] |
| Restricciones |
Acceso electrónico RESTRINGIDO por IP a los usuarios de la Biblioteca del Banco de España |
| Acceso electrónico |
 Acceso al texto completo. |
| Relacionado con |
Documentos de trabajo / Banco de España; 1902 |
| Clasificación |
D2-Producción y mercado. |
|
E1-Renta, empleo y precios. |
|
H3-Impuestos y otros ingresos públicos. |
|
M1-Estructura y funcionamiento de la empresa. |
|
M-Economía de la empresa. |
|
L2-Política industrial. |
| Materia |
Estados Unidos |
