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Market power, industrial concentration and innovative activity

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  • Vossen, Robert W.

    (Groningen University)

Abstract

This paper investigates asymmetric effects of monetary policy over the business cycle. A two-state Markov Switching Model is employed to model both recessions and expansions. For the United States and Germany, strong evidence is found that monetary policy is more effective in a recession than during a boom. Also some evidence is found for asymmetry in the United Kingdom and Belgium. In the Netherlands, monetary policy is not very effective in either regime.

Suggested Citation

  • Vossen, Robert W., 1998. "Market power, industrial concentration and innovative activity," Research Report 98B20, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    • Handle: RePEc:gro:rugsom:98b20
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    File URL: http://irs.ub.rug.nl/ppn/17486888X
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    References listed on IDEAS

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    1. Allen, Bruce T, 1969. "Concentration and Economic Progress: Note," American Economic Review, American Economic Association, vol. 59(4), pages 600-604, Part I Se.
    2. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
    3. Acs, Zoltan J & Audretsch, David B, 1988. "Innovation in Large and Small Firms: An Empirical Analysis," American Economic Review, American Economic Association, vol. 78(4), pages 678-690, September.
    4. Pavitt, Keith, 1984. "Sectoral patterns of technical change: Towards a taxonomy and a theory," Research Policy, Elsevier, vol. 13(6), pages 343-373, December.
    5. Harabi, Najib, 1994. "Technischer Fortschritt in der Schweiz: Empirische Ergebnisse aus industrieökonomischer Sicht [Technischer Fortschritt in der Schweiz:Empirische Ergebnisse aus industrieökonomischer Sicht]," MPRA Paper 6725, University Library of Munich, Germany.
    6. Robert W. Vossen & Bart Nooteboom, 1996. "Firm Size and Participation in R&D," Palgrave Macmillan Books, in: Alfred Kleinknecht (ed.), Determinants of Innovation, chapter 6, pages 155-168, Palgrave Macmillan.
    7. Zoltan Acs & David Audretsch, 1990. "Innovation and Small Firms," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011131, December.
    8. Erik Brouwer & Alfred Kleinknecht, 1996. "Determinants of Innovation: A Microeconometric Analysis of Three Alternative Innovation Output Indicators," Palgrave Macmillan Books, in: Alfred Kleinknecht (ed.), Determinants of Innovation, chapter 4, pages 99-124, Palgrave Macmillan.
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    Cited by:

    1. Kumar, Nagesh & Aggarwal, Aradhna, 2005. "Liberalization, outward orientation and in-house R&D activity of multinational and local firms: A quantitative exploration for Indian manufacturing," Research Policy, Elsevier, vol. 34(4), pages 441-460, May.

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