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On the effect of R&D in returns to experience

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  • Tiago Neves Sequeira

Abstract

Using a recent macroeconomic database, we empirically estimate an 'erosion effect': we show that Total Factor Productivity (TFP) growth decreases returns to experience. The 'erosion effect' is typically stronger within the rich and the most experienced countries in the world. This article complements the scarce microeconomic literature on the issue and the theoretical macroeconomic literature recently coming to the conclusion that this effect has important implications for the interaction between human capital accumulation and TFP.

Suggested Citation

  • Tiago Neves Sequeira, 2011. "On the effect of R&D in returns to experience," International Review of Applied Economics, Taylor & Francis Journals, vol. 25(1), pages 25-37.
  • Handle: RePEc:taf:irapec:v:25:y:2011:i:1:p:25-37
    DOI: 10.1080/02692170903426120
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    Keywords

    returns to experience; TFP; erosion effect;

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