Attiat Ott and Richard Cebula have recognised the need to present, in an accessible and straightforward way, the voluminous literature in the public economics arena. Advances in econometric techniques and the spillover of knowledge from other disciplines made it difficult, not only for students...

In this paper we investigate the relationship between the long-run real interest rate and the share of resources devoted to research in the U.S. In contrast to what is predicted by many R&D-based growth models we find the two to be positively correlated. We then calibrate a model with endogenous...

Several R&D-based growth models without scale effects claim that subsidies to R&D are not conductive for economic growth while a faster growing population is. Yet, in an effort to maintain high growth rates, most OECD countries continue to subsidize R&D, while several developing countries are...