Intel Economics

Arbeitspapier

This paper presents a model to explain why both industry leaders and follower firms often invest in R&D and explores the welfare implications of these R&D investment choices. Regardless of initial conditions, the equilibrium path in this model involves gradually convergence to a balanced growth path and R&D subsidies have no effect on the balanced growth rate. Nevertheless, it is always optimal for the government to intervene by subsidizing the R&D expenditures of industry leaders and taxing the R&D expenditures of follower firms. Without government intervention, market forces generate too much creative destruction.

Objekt anzeigen

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IUI Working Paper ; No. 524

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Management of Technological Innovation and R&D ; One, Two, and Multisector Growth Models
• Thema: Economic growth ; R&D ; Forschung ; Investition ; Wohlfahrtsanalyse ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Segerstrom, Paul S.
• Ereignis: Veröffentlichung
• (wer): The Research Institute of Industrial Economics (IUI)
• (wo): Stockholm
• (wann): 1999

Weitere Informationen

• Handle: http://hdl.handle.net/10419/94684