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Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Universität Hannover >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/66022
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| Title: | | Dynamically optimal R&D subsidization  |
| Authors: | | Grossmann, Volker Steger, Thomas M. Trimborn, Timo |
| Issue Date: | | 2010 |
| Series/Report no.: | | Discussion Paper, Wirtschaftswissenschaftliche Fakultät, Leibniz Universität Hannover 453 |
| Abstract: | | Previous research on optimal R& D subsidies has focussed on the long run. This paper characterizes the optimal time path of R& D subsidization in a semi- endogenous growth model, by exploiting a recently developed numerical method. Starting from the steady state under current R& D subsidization in the US, the R& D subsidy should significantly jump upwards and then slightly decrease over time. There is a negligible loss in welfare, however, from immediately setting the R& D subsidy to its optimal long run level, compared to the case where the dynamically optimal policy is implemented. |
| Subjects: | | R&D subsidy Transitional dynamics Semi-endogenous growth Welfare |
| JEL: | | H20 O30 O40 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Universität Hannover
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