Eberhardt, Markus; Helmers, Christian; Strauss, Hubert - In: The Review of Economics and Statistics 95 (2013) 2, pp. 436-448
A large body of literature estimates private returns to R&D adopting the Griliches knowledge production framework, which ignores the potential impact of spillovers on consistent estimation. Using a panel of twelve manufacturing industries across ten OECD economies, we investigate whether...