MOD: Firm Innovation, Selection and Labor Market Frictions

该项目采用的观点是，企业在其创新对总生产率的贡献程度上存在根本差异。理想情况下，最具创造力和创新力的公司应该以牺牲创造力较低的公司为代价来扩大业务，这将提高总生产率。然而，企业面板数据文件的共存企业具有非常不同的生产力水平，这表明选择过程是不完善的。智力MeritThere是很少的实证工作做企业创新的基础上，微观面板数据。该项目在基于企业面板和工人流动数据对创新过程进行推断方面开辟了新天地。 该项目研究选择过程的障碍。一个障碍是创新过程本身限制了扩张，因为它需要对研发进行昂贵的投资，而结果不确定。第二个障碍是由于企业从劳动力市场获得劳动力投入的成本很高。更具创造性的公司要扩大活动，就需要将工人从缺乏创造性的公司重新分配到更具创造性的公司。如果劳动力市场不能促进这种重新分配，创新的回报就会减少。该项目研究影响甄选过程的广泛政策。这包括研究和开发补贴和专利法设计，但也很重要的劳动力市场政策对创新的影响。强制性遣散费、最低工资、失业救济金设计等政策可能会以非平凡的方式影响创新，从而降低市场在企业之间重新分配工人的能力。该项目的实证部分是基于美国和丹麦的微观面板数据。更广泛的影响。该项目为研究和开发补贴和专利法领域的政策决定以及与其对公司创新和总生产率的影响有关的长期劳动力市场政策提供信息。此外，该项目产生了一个连贯的结构，管理企业创新和增长的观点。该项目将这种结构与现代微面板数据联系起来。这些类型的数据通常是机密的，并且受到限制访问。该项目提出了促进研究复制和透明度的估算方法。

The project adopts the view that firms differ fundamentally in the extent to which their innovations contribute to aggregate productivity. Ideally, the most creative and innovative firms should expand their operations at the expense of the less creative firms, which would increase aggregate productivity. However, firm panel data document the co-existence of firms with very different productivity levels, suggesting that the selection process is imperfect.Intellectual MeritThere is very little empirical work done on firm innovation based on micro panel data. The project breaks new ground in making inferences about innovation processes based on firm panel and worker flows data. The project studies the impediments to the selection process. One impediment is the innovation process itself limits expansion by requiring costly investment in R&D with an uncertain outcome. A second impediment is due to the firm's costly acquisition of labor inputs from the labor market. The expansion of activities by more creative firms requires worker reallocation from less to more creative firms. If the labor market fails to facilitate such reallocation, returns to innovation are reduced. The project studies a broad range of policies that affect the selection process. This includes the study of research and development subsidies and patent law design, but also importantly the impact of labor market policies on innovation. Policies such as mandatory severance payments, minimum wages, unemployment benefit design could potentially affect innovation in non-trivial ways to the degree that it reduces the market's ability to reallocate workers between firms. The empirical part of the project is based on U.S. and Danish micro panel data. Broader Impacts.The project informs policy decisions in the areas of research and development subsidies and patent laws as well as a long range of labor market policies in relation to their impact on firm innovation and aggregate productivity. Furthermore, the project produces a coherent view of the structure that governs firm innovation and growth. The project relates this structure to modern micro panel data. These types of data are typically confidential and subject to restricted access. The project sets forth estimation methods that facilitate research replication and transparency.