Many manufacturing industries, including the computer industry, have seen large increases in productivity grwoth rates and have experienced a reduction in average establishment size. A vintage capital model is introduced which can account for this fact. It is shown that a rise in the rate of technological change decreases average plant size, that is, the level of innovation affects fim soze. Smaller plants are not more innovative, as has been suggested, but indutries with more innovation, as measured by productivity growth, have smaller plants. (Copyright: Elsevier)
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics.
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Find related papers by JEL classification: D2 - Microeconomics - - Production and Organizations O3 - Economic Development, Technological Change, and Growth - - Technological Change
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