作者：Atkeson, Andrew; Burstein, Ariel
作者单位：University of California System; University of California Los Angeles; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：We examine the quantitative impact of policy-induced changes in firms' innovative investment on growth in aggregate productivity and output in a model that nests several of the canonical models. We isolate two statistics, the impact elasticity of aggregate productivity growth with respect to aggregate innovative investment and the degree of intertemporal knowledge spillovers in research, that shape the model's predicted dynamic response to a change in the innovation intensity of the economy. G...
