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Author: Paul Romer
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After a recent increase in Chinese import competition, European firms increased innovation. We present and rationalise these patterns using ‘trapped factors’ at the micro level within a stylised equilibrium model of prod...Read more...
Nicholas Bloom, Paul Romer, Stephen Terry and John Van Reenen
1 January 2021
When China’s accession to the WTO exposed European firms to import competition, they responded by increasing their investment in innovation. This response was stronger in industries and firms where factors of production ...Read more...
6 March 2014
When will reducing trade barriers against a low wage country cause innovation to increase in high wage regions like the US or EU? We develop a model where factors of production have costs of adjustment and so are partial...Read more...
12 February 2013