Grossmann, Volker; Steger, Thomas M.; Trimborn, Timo - In: Journal of Macroeconomics 38 (2013) PA, pp. 76-85
decline. By employing a calibrated version of a standard R&D-based growth model, we show that raising the R&D subsidy rate may …”). We also discuss the general mechanics of such an intertemporal free lunch in both one-sector and multi-sector growth …