Heterogeneity and Adjustment: Fixed Costs, Renovation, and Diffusion of Ideas

9409630 Caballero本研究将研究企业适应新条件的过程，并更新加速和抑制这一过程的制度和约束。本研究分为三个部分。第一部分建立了一个具有固定成本的投资微观经济模型，考察了企业如何适应微观层面的冲击，并具有不同的时变调整成本。这部分研究使用美国部门层面的投资数据来考察企业如何调整就业水平。本研究的第二部分建立了一个创造性破坏的模型。 创造性破坏是指由于求职的外部性和生产技术变化的外部性而导致的工作岗位流失和工厂关闭。研究的第三部分着重于思想的传播及其对经济增长的贡献。主要目标是对知识溢出对研究生产率和经济增长的影响进行经验估计。 这项研究具有重大意义，因为它提供的结果提高了我们对各种劳动力市场效率低下如何影响部门重组和资源从萎缩行业向增长行业重新分配等问题的理解。

9409630 Caballero This research will study the process by which firms adjust to new conditions and renovate the institutions and constraints that accelerate and depress such a process. The study is divided into three parts. The first part develops a microeconomic model of investment with fixed costs and it examines how firms adjust to micro-level shocks, and have different time-varying adjustment costs. This part of the study uses U.S. investment data at the sectoral level to examine how firms adjust their employment levels. The second part of the study develops a model of creative destruction. Creative destruction refers to a setting where the loss of jobs and plant closings involve inefficiencies due to externalities in job search and externalities due to changes in production techniques. The third part of the reserarch focuses on the diffusion of ideas and their contribution to economic growth. The main goal is to generate empirical estimates of the impact of knowledge spillovers on research's productivity and economic growth. This study is of significant interest because it provides results that improves our understanding of how a wide range of labor market inefficiencies could affect sectoral restructuring and reallocation of resources from shrinking industries to growing industries, among other things.