Fieldhouse, Andrew J.; Mertens, Karel - National Bureau of Economic Research - 2025
&D funding and private-sector productivity growth, and large implied social returns to public R&D investment. We show that these … in U.S. productivity within a few years, reaching gains of 0.2-0.4% after seven years or more. At their peak, the direct … productivity effects of the implied expansion in nondefense R&D alone would raise output by over $40 billion in a single year …