Knowledge spillovers and the timing of R&D policy

We analyze how knowledge spillovers influence the optimal timing of R&D policy. Using numerical simulations we find that optimal subsidies to R&D may be rising over time even when the returns to knowledge is decreasing. The optimal time profile of the subsidies is determined by the elasticity of scale in the R&D production function, which again depends on both the returns to knowledge and the returns to labor.

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Year of publication:	2010
Authors:	Bjertnæs, Geir H. ; Heggedal, Tom-Reiel ; Jacobsen, Karl
Publisher:	Oslo : Statistics Norway, Research Department
Subject:	Innovation policy \| R&D \| Technological spillovers

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Series:	Discussion Papers ; 635
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	64048896X [GVK] hdl:10419/192617 [Handle] RePEc:ssb:dispap:635 [RePEc]
Classification:	O32 - Management of Technological Innovation and R&D ; O38 - Government Policy
Source:	EconStor

Persistent link: https://www.econbiz.de/10011968405