Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: Growth, Concentration and Inequality in a Unified Schumpeter Mark I + II
  model   I develop a simple Schumpeterian agent-based model where industries are born
and evolve endogenously and use it to study the interrelation between
technological change, economic growth, market concentration and inequality.
This theoretical model combines features of the Schumpeter Mark I (centering
around the entrepreneur) and Mark II model (emphasizing the innovative
capacities of firms), and is capable of reproducing a large set of stylized
facts concerning growth, market concentration, inequality and productivity. In
particular, the model can reproduce the industry life-cycle, a Kuznets curve, a
Piketty-style increase of inequality in "mature" economies, as well as recent
stylized facts on "declining business dynamism". I conduct an extensive policy
analysis to identify the parameters that produce these stylized facts in the
model. Notably, the empirically-grounded assumption that the difficulty to
imitate a firm depends on its technological distance to the imitator can
explain prominent stylized facts of economic development since the 1980s.
However, growth in the number of industries triggered by the exploitation of
new technological opportunities can prove to be a counteracting force to these
tendencies in the short run. Thus, the model suggests a wave-like evolution of
growth, inequality and market concentration centered around advances in basic
research. Extensive sensitivity analysis suggest that policies aimed at
increasing the innovative capacities of firms increase the rate of growth of
output and real wages (dynamic efficiency) at the expense of increasing market
concentration (static inefficiency) and inequality.

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The categories of this paper are: patt-sol
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The categories of this paper are: alg-geom
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The categories of this paper are: math-ph
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The categories of this paper are: cmp-lg
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The categories of this paper are: atom-ph
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The categories of this paper are: plasm-ph
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The categories of this paper are: nucl-th
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The categories of this paper are: chao-dyn
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The categories of this paper are: funct-an
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The categories of this paper are: gr-qc
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The categories of this paper are: cs
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The categories of this paper are: hep-ph
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The categories of this paper are: astro-ph
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The categories of this paper are: quant-ph
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The categories of this paper are: eess
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The categories of this paper are: nlin