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Do Subsidies to Commercial R&D Reduce Market Failures? Microeconomic Evaluation Studies
Klette, Tor Jakob; Møen, Jarle; Griliches, Zvi - 2021
A number of market failures have been associated with R&D investments and significant amounts of public money have been spent on programs to stimulate innovative activities. In this paper, we review some recent microeconomic studies evaluating effects of government sponsored commercial R&D. We...
Persistent link: https://www.econbiz.de/10013221941
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High Tech R&D Subsidies : Estimating the Effects of Sematech
Irwin, Douglas A.; Klenow, Peter J. - 2021
Sparked by concerns about their shrinking market share, 14 leading U.S. semiconductor producers, with the financial assistance of the U.S. government in the form of $100 million in annual subsidies, formed a joint R&D consortium -- Sematech -- in 1987. Using Compustat data on all U.S....
Persistent link: https://www.econbiz.de/10013248691
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Innovation in the U.S. Government
Bruce, Joshua R.; de Figueiredo, John M. - 2022
This paper examines the U.S. government’s intramural research and development efforts over a 40-year period, drawing together multiple human capital, government spending, and patent datasets. The U.S. Federal Government innovates along four dimensions: technological, organizational,...
Persistent link: https://www.econbiz.de/10013293708
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Rewards Versus Intellectual Property Rights
Shavell, Steven; Van Ypersele, Tanguy - 2021
This paper compares reward systems to intellectual property rights (patents and copyrights). Under a reward system, innovators are paid for innovations directly by government (possibly on the basis of sales), and innovations pass immediately into the public domain. Thus, reward systems engender...
Persistent link: https://www.econbiz.de/10013220790
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Do R&D Subsidies Stimulate or Displace Private R&D? Evidence from Israel
Lach, Saul - 2021
In evaluating the effect of an R&D subsidy we need to know what the subsidized firm would have spent on R&D had it not … received the subsidy. Using data on Israeli manufacturing firms in the 1990s we find evidence suggesting that the R&D subsidies … this effect is large enough to justify the existence of the subsidy program, it is lower than expected given the dollar …
Persistent link: https://www.econbiz.de/10013239953
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Innovation, Reallocation and Growth
Acemoglu, Daron - 2014
We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A new and central economic force is the selection between high- and low-type firms, which differ in terms of their innovative capacity. We estimate the parameters of the model...
Persistent link: https://www.econbiz.de/10013064072
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Incentives in Basic Research
Lazear, Edward P. - 2021
Individuals involved in basic research, like other workers, respond to incentives. Funding agencies provide implicit incentives when they specify the rules by which awards are made. The following analysis is an exercise in understanding incentives at an applied level. Specific rules are examined...
Persistent link: https://www.econbiz.de/10013227506
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Transition to Clean Technology
Acemoglu, Daron - 2015
We develop a microeconomic model of endogenous growth where clean and dirty technologies compete in production and innovation—in the sense that research can be directed to either clean or dirty technologies. If dirty technologies are more advanced to start with, the potential transition to...
Persistent link: https://www.econbiz.de/10013031480
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The Future of the Government Sponsored Enterprises : The Role for Government in the U.S. Mortgage Market
Jaffee, Dwight M. - 2011
This paper analyzes options for reforming the U.S. housing finance system in view of the failure of Fannie Mae and Freddie Mac as government sponsored enterprises (GSEs). The options considered include GSE reform, a range of possible new governmental mortgage guarantee plans, and greater...
Persistent link: https://www.econbiz.de/10013117213
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Can the Covid Bailouts Save the Economy?
Elenev, Vadim - 2020
The covid-19 crisis has led to a sharp deterioration in firm and bank balance sheets. The government has responded with a massive intervention in corporate credit markets. We study equilibrium dynamics of macroeconomic quantities and prices, and how they are affected by government policy. The...
Persistent link: https://www.econbiz.de/10012833129