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Optimal growth policy: The role of skill heterogeneity

Volker Grossmann () and Thomas Steger ()

Economics Letters, 2013, vol. 119, issue 2, 162-164

Abstract: A simple semi-endogenous growth model is employed to show that optimal subsidization of both R&D and capital costs is independent of the distribution of R&D skills in the workforce. This holds despite the empirically supported fact that a higher R&D subsidy rate raises wages of R&D workers.

Keywords: Optimal growth policy; R&D skills; R&D subsidy; Semi-endogenous growth, heterogeneity (search for similar items in EconPapers)
JEL-codes: O30 O40 H20 (search for similar items in EconPapers)
Date: 2013
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