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DTSTART:20070311T020000
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DTSTAMP:20260904T102731
DTSTART;TZID=America/Detroit:20261006T113000
DTEND;TZID=America/Detroit:20261006T125000
SUMMARY:Workshop / Seminar:Did R&D Misallocation Contribute to Slower Growth?
DESCRIPTION:This paper provides evidence that rising misallocation in the R&D sector con- tributed to the recent slowdown in U.S. productivity growth. I develop a growth accounting framework allowing for misallocation of R&D resources across firms cap- tured by wedges between their marginal costs and benefits of R&D. I show that R&D wedges can be measured from R&D returns and document large and persistent differ- ences in R&D returns across U.S.-listed firms. Combining data and model\, I estimate that frictions reduced productivity growth by 11% over 1975–2014 and that rising misallocation in the R&D sector accounts for 32% of the growth slowdown.
UID:149561-21906705@events.umich.edu
URL:https://events.umich.edu/event/149561
CLASS:PUBLIC
STATUS:CONFIRMED
CATEGORIES:Economics,Macroeconomics,seminar
LOCATION:North Quad - 4325
CONTACT:
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