Bitzer, Jürgen; Stephan, Andreas - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2002
A new method for constructing R&D capital stocks is proposed. Following Schumpeter, the development of R&D capital … R&D capital stocks but also, by displacing old knowledge, to destroy part of that capital. This is in stark contrast to … stocks is modelled as a process of creative destruction. Newly generated knowledge is assumed not only to add to the existing …