BIBFRAME Work

Title

Innovation and welfare

Type

• Text
• Monograph

Contribution

• Jaumandreu Balanzó, Jordi, 1952- (author)
• National Bureau of Economic Research (contributor)
• Mairesse, Jacques (contributor)

Language

• English

Classification

LCC: HB1 (Assigner: dlc) (Status: used by assigner)

Content

• text

Supplementary content

• bibliography

Summary

"This paper develops a simple framework to estimate the parameters of the production function together with the elasticity of the demand for the output and the impact of demand and cost shifters. The use of this framework helps, in the first place, to treat successfully the difficult problem of the endogeneity of input quantities. But it also provides a natural way to assess the welfare effects of firms' innovative actions by estimating their impact on both cost and demand. We show that the total current period (static) welfare gains of introducing a process or a product innovation are, on average, about 1.6% and 4%, respectively, of the value of the firm's current sales. The increase in consumer surplus amounts to two- thirds of these gains in the first case and half in the second"--National Bureau of Economic Research web site.

Authorized Access Point

Jaumandreu Balanzó, Jordi, 1952-. Innovation and welfare

Admin Metadata

• Date: 2026-09-11T20:18:37.402348+00:00
• Agent: cbc
• Status: c
• Derived from: 16444296

Admin Metadata

• Date: 2026-09-11
• Cataloger id: Unknown
• Description level: http://id.loc.gov/ontologies/bibframe-2-6-0/
• Description language: eng
• Description authentication: pcc