[cid:image002.png@01D2BAA5.6D8F6550][cid:image003.png@01D2BAA5.6D8F6550] JOINT VIENNA MACROECONOMICS SEMINAR INVITATION R E M I N D E R The Joint Vienna Institute and the Institute for Advanced Studies cordially invite you to the following Joint Vienna Macroeconomics Seminar <http://www.ihs.ac.at/vienna/resources/Economics/Papers/20130226_Paper_Zimmermann.pdf> Wednesday, April 26, 2017 Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna Seminar Room 101, 1st floor 5:00 pm Rui Xu<https://www.linkedin.com/in/rui-xu-3b30921a> International Monetary Fund Does Import Competition Induce R&D Reallocation? Evidence from the U.S. Abstract: We analyze the impact of rising import competition from China on U.S. innovative activities, both at the firm level and at the industry level. Using Compustat firm-level data, we identify a negative effect of import competition on R&D expenditures of U.S. public firms. Since import competition is measured at the industry level, the average negative effect masks potential heterogeneity across firms within an industry. Indeed we find that import competition induces R&D to reallocate towards more productive, less financially constrained and more profitable firms. When we take the analysis to the industry level, the negative effect of import competition goes away. In addition, our analysis using population census data suggests that rising competition from China in manufacturing has led to reallocation of researchers towards booming service industries, including business and repairs, personal services, and financial services. We are looking forward to seeing you! IHS Institute for Advanced Studies Josefstädter Straße 39, 1080 Vienna, Austria Tel.: +43 1 599 91 - 0 e-Mail: economics@ihs.ac.at<mailto:economics@ihs.ac.at> http://www.ihs.ac.at<http://www.ihs.ac.at/> LINKS DIRECTIONS TO IHS on Google maps<https://www.google.at/maps/place/Institut+f%C3%BCr+H%C3%B6here+Studien/@48.2096845,16.3476134,15z/data=!4m2!3m1!1s0x0:0x86d55731043062b7> JOINT VIENNA MACRO SEMINAR<https://www.google.com/calendar/embed?src=6h1m59s6inkmo4ppa30s4itb6k%40group.calendar.google.com&ctz=Europe/Vienna> on Google calendar<https://www.google.com/calendar/embed?src=6h1m59s6inkmo4ppa30s4itb6k%40group.calendar.google.com&ctz=Europe/Vienna> ECONOMICS SEMINARS <https://www.google.com/calendar/embed?src=o7e40khrmr1vn2lo20mhbe539g%40group.calendar.google.com&ctz=Europe/Vienna> IN VIENNA<https://www.google.com/calendar/embed?src=o7e40khrmr1vn2lo20mhbe539g%40group.calendar.google.com&ctz=Europe/Vienna> on Google calendar<https://www.google.com/calendar/embed?src=o7e40khrmr1vn2lo20mhbe539g%40group.calendar.google.com&ctz=Europe/Vienna> [cid:image008.jpg@01CEA8B6.39ACE730]<http://www.ihs.ac.at/> [JVI_2011]<http://www.jvi.org/> Diese Zusendung erfolgt entsprechend den Bestimmungen des TKG 247107. Sollten Sie keine weiteren Zusendungen wuenschen, senden Sie uns bitte eine kurze Mitteilung an: economics@ihs.ac.at<mailto:economics@ihs.ac.at>. If you do not want to receive our mailings please send an e-mail to: economics@ihs.ac.at<mailto:economics@ihs.ac.at>. Also sent to noeg-l@wu.ac.at<mailto:noeg-l@wu.ac.at> (https://mailman.wu.ac.at/mailman/listinfo/noeg-l.)