Acemoglu, Daron; Akcigit, Ufuk; Bloom, Nicholas; Kerr, … - 2014
estimate the parameters of the model using detailed US Census micro data on firm-level output, R&D and patenting. The model … provides a good fit to the dynamics of firm entry and exit, output and R&D, and its implied elasticities are in the ballpark of … a range of micro estimates. We find industrial policy subsidizing either the R&D or the continued operation of …