G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w5321
来源IDWorking Paper 5321
Research and Productivity
Boyan Jovanovic; Yaw Nyarko
发表日期1995-10-01
出版年1995
语种英语
摘要We model research as a signal on an unknown parameter of a technology. We distinguish applied from basic research and show that firms in the same industry can optimally choose different research portfolios, and that basic research can seem to have a higher rate of return than applied research, even though it really doesn't -- essentially, firms on a 'fast track' upgrading policy opt for basic research but fast and slow-track upgrading policies can coexist in a long-run equilibrium. We also derive the lag structure for how R&D affects the firm's stock of knowledge. To a first approximation, the lags decay geometrically (as is typically assumed in practice) but the rate of decay is endogenous, and depends on how fast the firm is upgrading its technology.
主题Other
URLhttps://www.nber.org/papers/w5321
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/562773
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GB/T 7714
Boyan Jovanovic,Yaw Nyarko. Research and Productivity. 1995.
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