Owing to a series of impacts of the "9·11 terrorist attack," the accounting scandals of big companies, Iraq War and the SARS crisis in the past two years, the world economy that might have rebounded for...Owing to a series of impacts of the "9·11 terrorist attack," the accounting scandals of big companies, Iraq War and the SARS crisis in the past two years, the world economy that might have rebounded forcefully has been on a wavering process of slow recovery.展开更多
Is the degree of external economies （at the industry level） higher than the degree of internal increasing returns （at the firm level）？ If so, what is the exact source of this difference？ In the general equilibri...Is the degree of external economies （at the industry level） higher than the degree of internal increasing returns （at the firm level）？ If so, what is the exact source of this difference？ In the general equilibrium model in which firms producing final goods choose the degree of specialization of their technologies, external economies arise from the usage of intermediate inputs and the existence of internal increasing returns. It is frequently assumed that increasing returns are absent at the firm level while present at the industry level. In this model, the existence of increasing returns at the form level is necessary for the existence of external economies at the industry level. We show that the degree of external economies increases with the level of linkage effects. However, a higher linkage effect does not always lead firms to choose more specialized technologies.展开更多
文摘Owing to a series of impacts of the "9·11 terrorist attack," the accounting scandals of big companies, Iraq War and the SARS crisis in the past two years, the world economy that might have rebounded forcefully has been on a wavering process of slow recovery.
文摘Is the degree of external economies （at the industry level） higher than the degree of internal increasing returns （at the firm level）？ If so, what is the exact source of this difference？ In the general equilibrium model in which firms producing final goods choose the degree of specialization of their technologies, external economies arise from the usage of intermediate inputs and the existence of internal increasing returns. It is frequently assumed that increasing returns are absent at the firm level while present at the industry level. In this model, the existence of increasing returns at the form level is necessary for the existence of external economies at the industry level. We show that the degree of external economies increases with the level of linkage effects. However, a higher linkage effect does not always lead firms to choose more specialized technologies.
