Showing 1 - 10 of 7,554
U.S. R&D investment are based on the assumption that only the government …quantity of, private investment in 'signaling' R&D, we estimate variants …
Persistent link: https://www.econbiz.de/10012477098
Research and development (R&D) is a key determinant of long run productivity and welfare. A central issue is whether a decentralized economy undertakes too little or too much R&D. We develop an endogenous growth model that incorporates parametrically four important distortions to R&D: the...
Persistent link: https://www.econbiz.de/10012471500
We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth …) firm growth independent of firm size, as stated in the so-called Gibrat's law, and (iii) R&D investment proportional to …
Persistent link: https://www.econbiz.de/10012472060
by subsequent embodiments in physical capital. Traditionally, the only distinction between R&D and physical investment … the observed higher volatility of physical investment (relative to R&D expenditures) …
Persistent link: https://www.econbiz.de/10012474919
While patent systems have been widely used both historically and internationally, there is nonetheless a tremendous amount of controversy over whether patent systems - in practice - improve the alignment between private returns and social contributions. In this paper, I describe three parameters...
Persistent link: https://www.econbiz.de/10012455593
We examine the role of spillover learning in shaping the value of exploratory versus incremental R&D. Using data from drug development, we show that novel drug candidates generate more knowledge spillovers than incremental ones. Despite being less likely to reach regulatory approval, they are...
Persistent link: https://www.econbiz.de/10014287391
This paper presents a comparative analysis of productivity growth in the U.S. and Japanese electrical machinery industries in the postwar period. This industry has experienced rapid growth in output and productivity and high rates of capital formation in both countries. A substantial amount of...
Persistent link: https://www.econbiz.de/10012477226
investment demands and the elasticities are highly inelastic. The effect is stronger for P&E than for R&D capital in the long run …, while the effects on P&E and R&D investment are quite similar in the short run …
Persistent link: https://www.econbiz.de/10012478088
, and the effects of different investment profiles on total factor productivity growth on Dutch firm-level data. We estimate … an integrated model of investment profile adoption and total factor productivity growth. We find that the three … investment decisions are complementary, in the sense that investing in one increases the probability of investing in another one …
Persistent link: https://www.econbiz.de/10012480697
Recent policy attention has focused on proposals to reduce prices for drugs that have received public funding. From an implementation perspective, such policies rely on public disclosure of government support for research. In this paper, we highlight two conceptual problems with past attempts to...
Persistent link: https://www.econbiz.de/10012482567