Kaus, Wolfhard; Slavtchev, Viktor; Zimmermann, Markus - 2020
We study the importance of intangible capital (R&D, software, patents) for the measurement of productivity using firm …-level panel data from German manufacturing. We first document a number of facts on the evolution of intangible investment over … of input choice and unobserved productivity shocks. We find a positive output elasticity for research and development (R …