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作者：NADIRI, MI; MAMUNEAS, TP
作者单位：National Bureau of Economic Research
摘要：In this paper we examine the effects of publicly financed infrastructure and R&D capitals on the cost structure and productivity performance of twelve two-digit U.S. manufacturing industries. The results suggest that there are significant productive effects from these two types of capital. Their effects on the cost structure vary across industries. Not only is the cost function shifted downward in each industry, generating productivity inducement, but the factor demand in each industry is also...
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作者：HIMMELBERG, CP; PETERSEN, BC
作者单位：Washington State University
摘要：Since Schumpeter, economists have argued that internal finance should be an important determinant of R&D expenditures. Yet almost without exception, previous empirical studies have not found evidence of such a relation. Using newly available data, we investigate this puzzle with a panel of 179 small firms in high-tech industries. Under each estimation strategy we employ, we find an economically large and statistically significant relationship between R&D investment and internal finance. Our re...
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作者：SMITH, VK; PALMQUIST, RB
摘要：This paper proposes a method for measuring the effects of substitutions in the timing of recreational use on people's willingness to pay for nonmarketed resources. Using the three markets (peak, pre-peak, and post-peak) for weekly rentals of vacation properties along the Outer Banks of North Carolina, we are able to control for changes in the mix of site characteristics selected at different times and estimate the effects of temporal substitution on tradeoffs between other characteristics. Pro...
