haku: @author Stokey, N. / yhteensä: 2
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| Tekijä: | Stokey, N. |
| Otsikko: | R&D and economic growth |
| Lehti: | Review of Economic Studies
1995 : JUL, VOL. 62:3(212), p. 469-490 |
| Asiasana: | R&D ECONOMIC GROWTH COMPETITION |
| Kieli: | eng |
| Tiivistelmä: | The aggregate rate of R&D in a competitive economy is compared with the optimal rate. The optimal rate of R&D is shown to be the same for all preferences in a broad family, while the competitive rate is sensitive to the form of substitutability among products and so can vary dramatically within a family. The second-best level of R&D is shown ti be also common within a family and equal to the optimal rate. |
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