An Equilibrium Search Model of Industry Dynamics
A 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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|Date of creation:||2004|
|Date of revision:|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/
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