Knowledge spillovers and the timing of R&D policy
AbstractWe analyze how knowledge spillovers influence the optimal timing of R&D policy. Using numerical simulations we find that optimal subsidies to R&D may be rising over time even when the returns to knowledge is decreasing. The optimal time profile of the subsidies is determined by the elasticity of scale in the R&D production function, which again depends on both the returns to knowledge and the returns to labor.
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Bibliographic InfoPaper provided by Research Department of Statistics Norway in its series Discussion Papers with number 635.
Date of creation: Nov 2010
Date of revision:
Innovation policy; R&D; Technological spillovers;
Find related papers by JEL classification:
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-11-13 (All new papers)
- NEP-CMP-2010-11-13 (Computational Economics)
- NEP-CSE-2010-11-13 (Economics of Strategic Management)
- NEP-INO-2010-11-13 (Innovation)
- NEP-KNM-2010-11-13 (Knowledge Management & Knowledge Economy)
- NEP-SBM-2010-11-13 (Small Business Management)
- NEP-TID-2010-11-13 (Technology & Industrial Dynamics)
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