Arbeitspapier
A Schumpeter-inspired approach to the construction of R&D capital stocks
A new method for constructing R&D capital stocks is proposed. Following Schumpeter, the development of R&D capital stocks is modelled as a process of creative destruction. Newly generated knowledge is assumed not only to add to the existing R&D capital stocks but also, by displacing old knowledge, to destroy part of that capital. This is in stark contrast to the perpetual inventory method, which postulates a constant rate of depreciation. We compare both methods by estimating the impact of R&D and spillovers on output in OECD countries, and find that the new approach leads to more sensible and robust results.
- Language
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Englisch
- Bibliographic citation
-
Series: DIW Discussion Papers ; No. 300
- Classification
-
Wirtschaft
Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
Innovation and Invention: Processes and Incentives
Externalities
- Subject
-
R&D capital stocks
knowledge spillovers
creative destruction
Forschung
Gesamtwirtschaftliches Anlagevermögen
Spillover-Effekt
Schumpeterismus
Schätztheorie
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Bitzer, Jürgen
Stephan, Andreas
- Event
-
Veröffentlichung
- (who)
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Deutsches Institut für Wirtschaftsforschung (DIW)
- (where)
-
Berlin
- (when)
-
2002
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Bitzer, Jürgen
- Stephan, Andreas
- Deutsches Institut für Wirtschaftsforschung (DIW)
Time of origin
- 2002
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