Chen, Yanyou; Xu, Daniel Yi - National Bureau of Economic Research - 2022
industry from 1991 to 1996. Plant-level decisions on R&D, physical capital investment, entry, and exit are integrated in a … of Weintraub, Benkard and Van Roy (2008) to estimate the R&D cost, magnitude of knowledge spillovers, adjustment costs of …-level productivity evolution and the equilibrium market configuration. A counterfactual experiment reveals that a 15% R&D subsidy …