This paper explores a novel way to evaluate the extent to which R&D knowledge embodied in intermediate inputs correlates with productivity at the industry level. We propose the concept of R&D content of intermediates, which represents the R&D stock embodied in intermediate goods used in...

This paper explores a novel way to evaluate the extent to which R&D knowledge embodied in intermediate inputs correlates with productivity at the industry level. We propose the concept of the R&D content of intermediates, which represents the knowledge stock embodied in the intermediate inputs...