Innovations, Prices and Employment: A Theoretical Model and an Empirical Application for West German Manufacturing Firms
AbstractIn this paper, a theoretical model of the impact of product and process innovations on output, capacity utilization, employment, and prices is developed. The model is estimated with a unique set of microdata from West German manufacturing firms. The empirical results reveal that innovative firms are more successful. They show a higher utilization and more output and employment growth than noninnovative firms. Innovations also change market behavior. In sectors with a large share of product innovators, firms more often change employment and less often change prices, i.e., product innovations reduce price competition. Copyright 1998 by Blackwell Publishing Ltd
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Industrial Economics.
Volume (Year): 46 (1998)
Issue (Month): 3 (September)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821
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