Knowledge spillovers and the timing of R&D policy

Geir H. Bjertnæs, Tom-Reiel Heggedal and Karl Jacobsen ()
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Karl Jacobsen: Statistics Norway, https://www.ssb.no/en/forskning/ansatte

Discussion Papers from Statistics Norway, Research Department

Abstract: We 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.

Keywords: Innovation policy; R&D; Technological spillovers (search for similar items in EconPapers)
JEL-codes: O32 O38 (search for similar items in EconPapers)
Date: 2010-11
New Economics Papers: this item is included in nep-cmp, nep-cse, nep-ino, nep-knm, nep-sbm and nep-tid
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https://www.ssb.no/a/publikasjoner/pdf/DP/dp635.pdf (application/pdf)

Related works:
Working Paper: Knowledge spillovers and the timing of R&D policy (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:ssb:dispap:635

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