Optimal growth policy: The role of skill heterogeneity
Volker Grossmann () and
Thomas Steger ()
No 117, Working Papers from University of Leipzig, Faculty of Economics and Management Science
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)
New Economics Papers: this item is included in nep-fdg and nep-ino
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Journal Article: Optimal growth policy: The role of skill heterogeneity (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:leiwps:117
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