英语翻译

题目

英语翻译
This paper studies the innovation dynamics of an oligopolistic
industry.The firms compete not only in the output market but also by engaging
in productivity enhancing innovations to reduce labor costs.Rent sharing may
generate productivity dependent wage differentials.Productivity growth creates
intertemporal spillover effects,which affect the incentives for innovation at
subsequent dates.Over time the industry equilibrium approaches a steady state.
The paper characterizes the evolution of the industry's innovation behavior and
its market structure on the adjustment path.
Firms invest in labor productivity before competing in a freeentry oligopoly.► The industry’s
static and steady state equilibria are characterized and compared.► Rent sharing may generate productivity dependent
differentials.► Productivity growth is driven by wage
growth at the steady state.► Hold-up is absent in the
long-run.
Keywords
Innovation;Labor productivity; Oligopoly; Wage differentials; Productivity growth; Industry dynamics

答案

本文研究了寡占市场产业的创新力度.企业间的竞争不仅在输出市场还从事提高生产率的创新,降低劳动成本.租金分摊可能产生生产率依赖和工资差异.生产率增长会造成跨期溢出效应,对创新的后期激励.随着时间的推移,产业平衡的方法,一个稳定的状态.将该行业的创新行为与市场结构的演变在调整路径.公司投资的劳动生产率在自由进入寡头竞争之前.►产业的静止和稳态平衡的特点和比较.►租金分摊可能产生生产率依赖工资差异.►生产率的增长是由工资在的稳定所驱动.►停滞从长远来看是没有的.
关键词:创新;劳动生产率；寡头垄断；工资差距；生产率增长；行业动态