We develop a model of the location of global R&D investments by multinational firms, where research investments increase the number of varieties of goods sold globally by the firm, and development activities reduce the cost of producing existing varieties in specific countries. Intellectual...

We examine the effects of R&D spillovers on total factor productivity in a large panel of Japanese manufacturing plants matched with R&D survey data (1987-2007). We simultaneously examine the role of public (university and research institutions) and private (firm) R&D spillovers, and examine the...

Contractual and organizational characteristics of university-industry research collaboration (hereafter UIC) are keys to its success. In this respect, government can play essential roles in UIC: Public subsidy for research and development (hereafter R&D) is not only an important financial...

This paper presents a model in which improvement in the future TFP is, on impact, associated with increases in consumption, stock prices, and real wages, and decreases in GDP, investment, hours worked, and inflation. These predictions are consistent with empirical findings of Barsky and Sims....

To what extent does a tax credit affect firms' R&D activity? What are the mechanisms? This paper examines the effect of the 2003 Japanese tax credit reform on firms' R&D investment by exploiting cross-sectional variation across firms in the changes in the effective tax credit rate between 2002...

We explore the effects of domestic environmental standards when a domestic firm and a foreign rival compete in the domestic market. We focus on a situation where the introduction of environmental standards forces the foreign product out of the domestic market because it does not meet the...