Energy prices and induced innovation
研究了1970年代能源和中间材料价格大幅上涨对美国制造业企业研发支出的影响，发现受价格冲击最大的行业研发支出增长最快。
The received theory of induced innovation implies that input prices, as well as other economic factors such as demand and market structure, determine the extent and nature of the optimizing firm's allocation of resources to research activity. This paper investigates the effects of large increases in the prices of energy and other intermediate materials during the early to mid 1970s on the amount of R&D performed by U.S. manufacturing firms. The evidence indicates that industries most affected by these price increases maintained the highest growth rate of R&D expenditure, holding constant output growth.