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• W4383225244 abstract "This article develops and estimates an industry equilibrium model of the Korean electric motor industry from 1991 to 1996. Plant‐level decisions on R&D, physical capital investment, entry, and exit are integrated in a dynamic setting with knowledge spillovers. We apply the novel approximation of oblivious equilibrium to estimate the R&D cost, magnitude of knowledge spillovers, adjustment costs of physical investment, and plant scrap value distribution. Knowledge spillovers are essential to explaining the firm‐level productivity evolution and the equilibrium market configuration. A R&D subsidy maximizes industry output and is broadly consistent with a past policy initiative of the Korean government." @default.
• W4383225244 created "2023-07-06" @default.
• W4383225244 creator A5030759523 @default.
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• W4383225244 date "2023-06-01" @default.
• W4383225244 modified "2023-10-17" @default.
• W4383225244 title "A Structural Empirical Model of R&D, Firm Heterogeneity, and Industry Evolution*" @default.
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• W4383225244 doi "https://doi.org/10.1111/joie.12327" @default.
• W4383225244 hasPublicationYear "2023" @default.
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