The Implications of Regulation for Induced Technical Change: Reply

V. Kerry Smith

Bell Journal of Economics, 1975, vol. 6, issue 2, pages 706-707

Abstract: This note clarifies the role of regulation for induced technical change. Rate base regulation will affect the firm's innovational choices and may serve to reinforce static misallocation effects. However, the actual pattern induced in the presence of regulation must be considered an empirical question.

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