Sales and Advertising with Spillovers at the Firm Level: Estimation of a Dynamic Structural Model on Panel Data
AbstractThe aim of this paper is to study the relationship between advertising and sales of French manufacturing firms. First, we use a simple theoretical model compatible with past econometric studies of sales and advertising, and extend it to dynamics. We show that the models that do not account for the dynamic features of advertising lead to overstate the impact that advertising has on sales. Second, we estimate our model while accounting for the main problems encountered in the previous econometric studies: simultaneity between sales and advertising and fixed effects, using the generalized method of moments.
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Bibliographic InfoPaper provided by UniversitÃ© PanthÃ©on-Sorbonne (Paris 1) in its series Papiers d'Economie MathÃ©matique et Applications with number 98.17.
Length: 39 pages
Date of creation: 1998
Date of revision:
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Postal: France; Universite de Paris I - Pantheon- Sorbonne, 12 Place de Pantheon-75005 Paris, France
Phone: + 33 44 07 81 00
Fax: + 33 1 44 07 83 01
Web page: http://cermsem.univ-paris1.fr/
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SALES ; ADVERTISING ; CAPITAL ; MANUFACTURING;
Find related papers by JEL classification:
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- D92 - Microeconomics - - Intertemporal Choice - - - Intertemporal Firm Choice, Investment, Capacity, and Financing
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
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