Quality ladders, growth, and R&D: an assessment from U.S. industry

  title={Quality ladders, growth, and R\&D: an assessment from U.S. industry},
  author={Kerk L Phillips},
  journal={Carnegie-Rochester Conference Series on Public Policy},
  • Kerk L Phillips
  • Published 1993
  • Economics
  • Carnegie-Rochester Conference Series on Public Policy
Abstract This paper present a version of recent Schumpeterian growth models. I present a different specification of preferences, by allowing goods within industries to be subtitutes, albeit imperfect ones. I show that assuming R&D spillovers, which allow easier R&D for less technologically advanced goods, leads to identical R&D intensities across goods within an industry. I also show that in the steady-state industries with greater shares in expenditure, greater ease of R&D and higher markups… Expand

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