Firm size and the nature of innovation within industries: the case of process and product R&D
Article Abstract:
A mathematical model was constructed to prove the validity of the hypothesis that larger concerns can average the fixed costs of their R&D innovations over a greater production level. Results indicate that larger firms have an edge in R&D due to greater production on which they can apply the results. Thus, R&D and compensations to it tend to increase with company size. Process and product innovation methodically vary in terms of the scope in which they can generate growth and be sold in disembodied form.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1996
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On the size and power of system tests for cointegration
Article Abstract:
System tests for cointegration developed by Johansen (1988), Stock and Watson (1988) and Bewley and Yang (1995) were compared using Monte Carlo simulation experiments. The Monte Carlo simulations include overspecification of data-generating processes and the lag length with moving average disturbances. Empirical results showed that the three system tests exhibit very different properties, with no one test dominating over a wide range of data-generating processes.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1998
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The objective function of simulation estimators near the boundary of the unstable region of the parameter space
Article Abstract:
Consideration of dynamic stability conditions plays a vital role in estimation by dynamic simulation. Stability conditions can be ignored in maintained model's estimation provided that stability conditions are first implemented in the auxiliary model. Failure to implement stability conditions on the auxiliary model will lead to minimum simulated deviation's (MSD) abnormal behavior.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1998
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