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Product Demand, Cost of Production, Spillovers, and the Social Rate of Return to R&D / Jeffrey I. Bernstein, M. Ishaq Nadiri.
- Format:
- Book
- Author/Creator:
- Bernstein, Jeffrey I.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3625.
- NBER working paper series no. w3625
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1991.
- Summary:
- The purpose of this paper is to develop and estimate a model of production with endogenous technological change. Technological change arises from R&D capital accumulation decisions. These decisions respond to market and government incentives and generate R&D capital spillovers. A spillover network of senders and receivers is estimated. The network shows that each receiving industry is affected by a distinct set of R&D sources and each sending industry affects a unique set of receivers. For the receivers, spillovers generally expand product markets, lower product prices, increase production costs and input demands. For the sources, significant R&D spillovers cause the social rates of return to R&D capital to be substantially above the private returns.
- Notes:
- Print version record
- February 1991.
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