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Autor
Sell Friedrich L. (Bundeswehr University Munich, Germany)
Tytuł
Static and Dynamic Price Effects Motivated by Innovation and Imitation : Novel Insights Using the Barone's Curve
Źródło
Contemporary Economics, 2020, vol. 14, nr 1, s. 73-89, rys., tab., aneks, bibliogr. 21 poz.
Słowa kluczowe
Innowacje, Ceny
Innovations, Prices
Uwagi
Klasyfikacja JEL: B31, B22, E32, O31, O11, O47
summ.
Abstrakt
Luigi Barone's famous curve offers an excellent framework for the study of the microeconomic and macroeconomic implications of innovation and imitation. However, neither Barone nor his epigones have been able to sufficiently "exploit" his contribution to date. Complementing his analysis of supply (covering unit costs and marginal costs of production) to the forces of aggregate demand provided by the macroeconomic aggregate demand-aggregate supply model (AS-AD) analysis would be required in order to identify the determinants of the equilibrium price level in the economy. Moreover, a dynamic interpretation (provided by an inhomogeneous difference equation of the second order) of Barone's key economic growth factors (innovation and imitation) makes it easier to identify the cyclical properties of the macroeconomic price changes. These cyclical price movements have proven to be empirically relevant in the case of Germany (2000-2017), while patent record (as an indicator for the occurrence of innovation) appears to follow a random walk (Germany, 2000-2017). (original abstract)
Pełny tekst
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Bibliografia
Pokaż
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  4. Deutsches Patent und Markenamt (2019). The numer of patent registrations in Germany between 2000 and 2017. Retrieved from https://de.statista.com/statistik/2203/umfrage/entwicklung-der-anzahl on January 2,, 2019.
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  7. Hoppmann, E. (1967). Competition as a standard for competition policy. ORDO: Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, 18, 77-94.
  8. Iwai, K. (1984). Schumpeterian dynamics: An evolutionary model of innovation and imitation. Journal of Economic Behavior & Organization, 5(2), 159-190.
  9. Iwai, K. (1984). Schumpeterian dynamics, part II: Technological progress, firm growth and 'economic selection'. Journal of Economic Behavior & Organization, 5(3-4), 321-351.
  10. Kirzner, I. M. (1978). Competition and entrepreneurship (Vol. 14). Mohr.
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  12. Meyer, B. (1989), An evolutionary interpretation of the Barone's curve, in: Gahlen, B., Meyer, B. & Schumann, J. (Eds.), Economic growth, structural change and dynamic competition (pp. 307-319). Springer.
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  14. Samuelson, P. A. (1939). Interactions between the multiplier analysis and the principle of acceleration. The Review of Economics and Statistics, 21(2), 75-78.
  15. Samuelson, P. A. (2004). Where Ricardo and Mill rebut and confirm arguments of mainstream economists supporting globalization. Journal of Economic Perspectives, 18(3), 135-146.
  16. Sell, F. L. (1988). Monetary and exchange rate policy in emerging economies. The example of the ASEAN countries. Duncker & Humblot.
  17. Sell, F. L. (1990). Inertial inflation and heterodox stabilization policy. Experiences from Argentina, Brazil and Israel. Kredit und Kapital, 23(1), 60-85.
  18. Sell, F. L. (2019). Innovations, imitations and differential profits: The Barone's curve in the context of economic development. Working Papers in economics No. 1. Bundeswehr University Munich.
  19. Spahn, H. P., & Bliss, C. (2001). Interest rate parity, the exchange rate and monetary policy. Jahrbuch für Wirtschaftswissenschaften, 52(1), 1-24.
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  21. Stock, J. H., & Watson, M. M. (2012). Introduction to Econometrics (Vol. 3). Pearson.
Cytowane przez
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ISSN
2084-0845
Język
eng
URI / DOI
http://dx.doi.org/10.5709/ce.1897-9254.333
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