High-Technology Subsidies in General Equilibrium: A Sector-Specific Approach.
The authors use a specific-factor model to examine the conditions under which policymakers are able to increase aggregate production of high-tech goods by production or R&D subsidies in the short and long run. The difficulties for the policymaker in designing a subsidy scheme that succeeds in expanding aggregate high-tech production involve taking into account the trade-off between resources used in R&D and production of high-tech goods, the relative impact of different R&D activities on productivity, and the ease with which resources may be attracted from the non-high-tech sector of the economy to the various high-tech industries.
Year of publication: |
1997
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Authors: | Ekholm, Karolina ; Torstensson, Johan |
Published in: |
Canadian Journal of Economics. - Canadian Economics Association - CEA. - Vol. 30.1997, 4, p. 1184-1203
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Publisher: |
Canadian Economics Association - CEA |
Saved in:
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