An Equilibrium Search Model of Industry Dynamics
AbstractA model with new industries opening as a Poisson arrival is set up. Firms have the choice to "hop" into new industries searching for their abilities there. The model aims at linking endogenous skill prices (and the value of the firm), the product life cycle and the timing of the switch to the production of new goods in new industries
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Bibliographic InfoPaper provided by Society for Economic Dynamics in its series 2004 Meeting Papers with number 819.
Date of creation: 2004
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Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
Web page: http://www.EconomicDynamics.org/society.htm
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Product Life Cycle; Industry dynamics;
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- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
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