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Quantitative Policy Analysis of Innovation Activities: Application to Dynamic Structural Estimation

Daiya Isogawa and Hiroshi Ohashi ()
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Daiya Isogawa: Ph.D. Student at Graduate School of Economics, the University of Tokyo

Public Policy Review, 2013, vol. 9, issue 2, 257-286

Abstract: This paper estimates a dynamic oligopoly model of product innovation and proposes an approach to evaluate an equilibrium effect of public policy on firm's innovation activities. The model considers a multi-agent Markov-Perfect Nash Equilibrium, allowing for firm's dynamic decision making on innovation activities, and its entry and exit. The estimation results obtained by use of Japanese firm-level data on product innovation identify net positive spillovers among firms' dynamic innovation activities.

Keywords: Product innovation; Spillovers; Dynamic oligopoly model; Markov perfect equilibrium; Subsidies; Innovation survey (search for similar items in EconPapers)
JEL-codes: C73 L13 O31 O38 (search for similar items in EconPapers)
Date: 2013
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