Reconciling Models of Diffusion and Innovation: A Theory of the Productivity Distribution and Technology Frontier
研究内生创新与技术扩散如何相互作用，决定生产率分布的形状并产生总体增长，发现创新拉伸分布而扩散压缩分布，平衡增长路径上增长率等于创新者的最大增长率。
We study how endogenous innovation and technology diffusion interact to determine the shape of the productivity distribution and generate aggregate growth. We model firms that choose to innovate, adopt technology, or produce with their existing technology. Costly adoption creates a spread between the best and worst technologies concurrently used to produce similar goods. The balance of adoption and innovation determines the shape of the distribution; innovation stretches the distribution, while adoption compresses it. On the balanced growth path, the aggregate growth rate equals the maximum growth rate of innovators. While innovation drives long‐run growth, changes in the adoption environment can influence growth by affecting innovation incentives, either directly, through licensing of excludable technologies, or indirectly, via the option value of adoption.