On the effect of R&D in returns to experience

Research output: Contribution to journalArticlepeer-review

Abstract

Using a recent macroeconomic database, we empirically estimate an 'erosion effect': we show that Total Factor Productivity (TFP) growth decreases returns to experience. The 'erosion effect' is typically stronger within the rich and the most experienced countries in the world. This article complements the scarce microeconomic literature on the issue and the theoretical macroeconomic literature recently coming to the conclusion that this effect has important implications for the interaction between human capital accumulation and TFP.
Original languageEnglish
Pages (from-to)25-37
JournalInternational Review Of Applied Economics
Volume25
Issue number1
DOIs
Publication statusPublished - 1 Jan 2011

Keywords

  • returns to experience
  • TFP
  • erosion effect

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