R&D and Productivity: Estimating Endogenous Productivity
Abstract
We develop a model of endogenous productivity change to examine the impact of the investment in knowledge on the productivity of firms. Our dynamic investment model extends the tradition of the knowledge capital model of Griliches (1979) that has remained a cornerstone of the productivity literature. Rather than constructing a stock of knowledge capital from a firm's observed R&D expenditures, we consider productivity to be unobservable to the...
Paper Details
Title
R&D and Productivity: Estimating Endogenous Productivity
Published Date
Feb 23, 2013
Volume
80
Issue
4
Pages
1338 - 1383
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