R&D Heterogeneity and the Impact of R&D Subsidies*
估计了一个包含异质性创新效率企业的熊彼特增长模型，并用其研究挪威一项针对低研发支出企业的补贴改革，发现该补贴虽使总研发投资增加11.7%，却降低了增长和福利。
Abstract In this paper we study the determinants of R&D heterogeneity and the economic impact of R&D subsidies. We estimate a Schumpeterian growth model featuring firms with heterogeneous innovation efficiencies. The model fits well the R&D investment distribution, and the frequency and relative size of R&D performers. Using the model, we study the impact of a Norwegian R&D reform targeting firms with R&D spending below a certain threshold. The size-dependent subsidy increases aggregate R&D investment by 11.7%, but reduces growth and welfare. In contrast, a uniform subsidy stimulates investment, growth and welfare.