Subsidies in an R&D growth model with elastic labor

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Subsidies in an R&D growth model with elastic labor

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Jinli Zeng
Jie Zhang () (MRG - School of Economics, The University of Queensland)

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Abstract

This paper compares different subsidies in an R&D growth model with competitive suppliers of a final good and monopolistic suppliers of intermediate goods. Unlike existing studies with lump-sum taxes and fixed labor, we assume distortionary taxes and elastic labor, finding some new insights. First, subsidizing R&D investment is more effective than subsidizing final output or subsidizing the purchase of intermediate goods in terms of promoting growth. Second, in terms of raising welfare, the R&D subsidy may also be more effective than the other subsidies and all of them are dominated by their mix, but none can achieve the social optimum.

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Paper provided by School of Economics, University of Queensland, Australia in its series MRG Discussion Paper Series with number 1206.

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Handle: RePEc:qld:uqmrg6:12

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Article
- Zeng, Jinli & Zhang, Jie, 2007. "Subsidies in an R&D growth model with elastic labor," Journal of Economic Dynamics and Control, Elsevier, vol. 31(3), pages 861-886, March. [Downloadable!] (restricted)

This paper has been announced in the following NEP Reports:

NEP-ALL-2006-11-25 (All new papers)

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Other versions:
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Other versions:
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Other versions:
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Other versions:
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