期刊
REVIEW OF ECONOMIC STUDIES
卷 88, 期 1, 页码 1-43出版社
OXFORD UNIV PRESS
DOI: 10.1093/restud/rdaa061
关键词
Productivity; Innovation; Basic research; Applied research; Research and development; Government spending; Endogenous growth; Spillover
类别
资金
- Alfred P. Sloan Foundation
- Ewing Marion Kauffman Foundation
- National Science Foundation
- ESRC [RES-060-25-0033]
This article introduces a general equilibrium model of endogenous technical change through basic and applied research. It suggests a novel empirical method to identify spillovers and highlights the potential issue of oversubsidizing applied research with uniform research subsidies. Policies focusing on public basic research and its interaction with the private sector are found to significantly improve welfare.
This article introduces a general equilibrium model of endogenous technical change through basic and applied research. Basic research differs from applied research in the nature and the magnitude of the generated spillovers. We propose a novel way of empirically identifying these spillovers and embed them in a framework with private firms and a public research sector. After characterizing the equilibrium, we estimate our model using micro-level data on research expenditures by French firms. Our key finding is that uniform research subsidies can accentuate the dynamic misallocation in the economy by oversubsidizing applied research. Policies geared towards public basic research and its interaction with the private sector are significantly welfare-improving.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据