| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP11682
|
| DP11682 Optimal Taxation and R&D Policies |
| Ufuk Akcigit; Douglas Hanley
|
| 发表日期 | 2016-12-03
|
| 出版年 | 2016
|
| 语种 | 英语
|
| 摘要 | We study the optimal design of R&D policies and corporate taxation when the outputs of innovation are not appropriable in the absence of intellectual property rights policies and there are non-internalized technology spillovers across firms. Firms are heterogeneous in their research productivity, i.e., in the efficiency with which they convert a given set of R&D inputs into successful innovations. There is asymmetric information about firm productivity and about its stochastic evolution over time that prevents the first best solution to the technology spillover. The problem is thus posed as one of dynamic mechanism design with externalities. We characterize the optimal constrained efficient allocations over firms' life cycles and for firms of different productivities. We show that the constrained efficient allocations can be implemented either by a patent system plus a price subsidy for the monopolists' products, together with a parsimonious R&D subsidy function or, equivalently, by a prize mechanism. We estimate our model using firm-level data matched to patent data and quantify the optimal policies. Simpler innovation policies, such as linear R&D subsidies and linear profit taxes, lead to large revenue losses relative to the optimal mechanism. |
| 主题 | Industrial Organization
; Macroeconomics and Growth
; Public Economics
|
| 关键词 | Corporate taxation
Tax credits
Subsidies
Innovation
Patents
R&d
|
| URL | https://cepr.org/publications/dp11682
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540496
|
推荐引用方式
GB/T 7714 |
Ufuk Akcigit,Douglas Hanley. DP11682 Optimal Taxation and R&D Policies. 2016.
|
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