| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP6767
|
| DP6767 Evolving International Inflation Dynamics: Evidence from a Time-varying DynamicFactor Model |
| Haroon Mumtaz; Paolo Surico
|
| 发表日期 | 2008-03-31
|
| 出版年 | 2008
|
| 语种 | 英语
|
| 摘要 | Major economic transitions, even when they are disruptive, do not occur instantaneously but rather occur over time, as regions within a country change at different rates. Accordingly, these dynamics may be reflected in a geographic lifecycle with different regions characterized by different phases analogous to the industry lifecycle model. In accordance with this argument, this paper tests the hypothesis that regions can be characterized as evolving over a predictable and well-defined lifecycle: (1) an initial entrepreneurial phases where Jacobs externalities and inter-industry start-ups prevail; (2) a routinized phase where innovation takes place within top-performing incumbents; (3) a second entrepreneurial phase characterized by Marshall-Arrow-Romer externalities, leading to intra-industry start-ups in niches; and (4) a second phase of routinization, in which no further innovation takes place, but is instead a phase of structural change. Using data on 74 West German planning regions, we find compelling evidence of a spatial lifecycle. |
| 主题 | Industrial Organization
|
| 关键词 | Knowledge externalities
Regional development
Spatial lifecycle
Innovation
entrepreneurship
|
| URL | https://cepr.org/publications/dp6767
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535605
|
推荐引用方式
GB/T 7714 |
Haroon Mumtaz,Paolo Surico. DP6767 Evolving International Inflation Dynamics: Evidence from a Time-varying DynamicFactor Model. 2008.
|
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