Public R & D Policies and Cost Behavior of the US Manufacturing IndustriesThis paper estimates and evaluates the contributions of R & D tax incentives and publicly financed R & D investment policies in promoting growth of output and privately funded R & D investment in US manufacturing industries. Publicly financed R & D induces cost savings but crowds out privately-financed R & D investment while the incremental R & D tax credit and the immediate deductibility provision of R & D expenditures have a significant impact on privately financed R & D investment. The optimal mix of both instruments is an important element for sustaining a balanced growth in output and productivity in the manufacturing sector. |
From inside the book
Results 1-3 of 3
Page 11
... Bernstein and Nadiri and Nadiri and Prucha can be explained by the fact that the elasticities estimated by those authors pertain to total R & D performed by the industry , ie . , company - financed as well as publicly - financed , and ...
... Bernstein and Nadiri and Nadiri and Prucha can be explained by the fact that the elasticities estimated by those authors pertain to total R & D performed by the industry , ie . , company - financed as well as publicly - financed , and ...
Page 23
... Bernstein and Nadiri ( 1987 ) ) , where qk is the physical capital deflator , r is the discount rate taken to be the rate on Treasury notes of ten - year maturity obtained from Citibase , & is the physical capital depreciation rate ...
... Bernstein and Nadiri ( 1987 ) ) , where qk is the physical capital deflator , r is the discount rate taken to be the rate on Treasury notes of ten - year maturity obtained from Citibase , & is the physical capital depreciation rate ...
Page 24
... Bernstein and Nadiri ( 1990 ) and U.S. Department of Labor ( 1989 ) ) . An estimate consistent with a 10 % depreciation rate for the R & D capital has also been obtained by Nadiri and Prucha ( 1994a ) in a dynamic production model where ...
... Bernstein and Nadiri ( 1990 ) and U.S. Department of Labor ( 1989 ) ) . An estimate consistent with a 10 % depreciation rate for the R & D capital has also been obtained by Nadiri and Prucha ( 1994a ) in a dynamic production model where ...
Common terms and phrases
additional R&D expenditures after-tax cost American Economic Review Bernstein and Nadiri billion company-financed R&D capital cost function Cost Labor Physical depreciation rate effect of publicly Effects of R&D electrical equipment 36 estimates external publicly financed Federal financed R&D capital financed R&D performed firms G₁ Griliches gross output Hessian matrix incremental R&D tax input demands intermediate inputs Internal Jorgenson labor and intermediate low R&D intensive Mamuneas manufacturing industries manufacturing sector marginal benefits marginal cost reduction Martin Feldstein Mean Std Minimum Maximum Multifactor Productivity NBER Working Papers Number output parameters perpetual inventory Phys Physical Capital R&D post-tax price elasticities price of company-financed price of R&D Productivity Growth public R&D publicly financed R&D publicly-financed R&D capital publicly-funded R&D R&D capital stocks R&D intensive industries R&D Spending R&D tax credit R&D tax incentives R&D Tax Policy Rates of Return rental price Research and Development returns to scale Statistics Technology Xavier Sala-i-Martin