Investment in R&D, Costs of Adjustment and Expectations
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This paper proposes a framework which integrates convex costs of adjustment and expectations formation in the determination of investment decisions in R&D at the firm level. The model is based on cost minimization subject to the firm's expectations of the stream of output and the price of R&D, and
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美国国家经济研究局创建时间：
1982-07-01
