| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w10741 |
| 来源ID | Working Paper 10741 |
| On the Timing of Innovation in Stochastic Schumpeterian Growth Models | |
| Gadi Barlevy | |
| 发表日期 | 2004-09-06 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | Recent work has revived the Schumpeterian hypothesis that recessions facilitate innovation and growth. But a major source of productivity growth, research and development, is actually procyclical. This paper argues that while it is optimal to concentrate growth-enhancing activities in downturns, dynamic spillovers inherent to the R&D process lead private agents to concentrate too much of their R&D activity in booms, precisely when its social cost is highest. Thus, while previous literature has argued recessions promote growth and intertemporal substitution is a desirable consequence of fluctuations, in the case of R&D recessions discourage growth and intertemporal substitution proves to be a social liability. |
| 主题 | Macroeconomics ; Business Cycles ; Development and Growth ; Innovation and R& ; D ; Microeconomics ; Welfare and Collective Choice |
| URL | https://www.nber.org/papers/w10741 |
| 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/568373 |
| 推荐引用方式 GB/T 7714 | Gadi Barlevy. On the Timing of Innovation in Stochastic Schumpeterian Growth Models. 2004. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w10741.pdf（582KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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