Estimating the Economic and Budgetary Effects of Research Investments

Theresa Gullo, Benjamin Page, David Weiner and Heidi Williams ()

No 33402, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Many US federal agencies model the economic and budgetary effects of research and development (R&D) investments -- both public R&D and private R&D -- as if R&D were the same as any other form of investment, such as physical capital investment. However, in recent decades a broad base of evidence has developed suggesting that such modeling may result in projections that are not well-aligned with the actual economic and budgetary effects of R&D investments. In this paper, we attempt to synthesize the economic evidence relevant to estimating the economic and budgetary effects of R&D, and examine how and where this research literature could potentially be incorporated into the standard projections produced by various federal agencies.

JEL-codes: O0 O30 (search for similar items in EconPapers)
Date: 2025-01
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Note: PE PR
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Forthcoming: Estimating the Economic and Budgetary Effects of Research Investments , Theresa Gullo, Benjamin Page, David Weiner, Heidi L. Williams. in Tax Policy and the Economy, Volume 39 , Moffitt. 2024

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