We develop a general equilibrium model with heterogeneous firms ue0 la Melitz (2003), where both the government and firms can invest into R&D to improve the country's technological potential. A higher technological potential raises the average productivity of firms, thus implying lower consumer prices, and eventually leads to a welfare gain. The government's public and firms' private investments are modelled in a three-stage game, in which the government in the first stage invests into a basic research level, and then firms conduct private R&D building on this publicly provided 'technology' in the second stage. We find that private R&D investments are hump-shaped with respect to the basic research level. For lower levels public and private investments are complements, while for higher levels they are substitutes.
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机译：我们用异构公司 ue0 la Melitz（2003）开发了一个一般均衡模型，政府和公司都可以在研发上进行投资，以提高国家的技术潜力。更高的技术潜力可以提高企业的平均生产率，从而暗示较低的消费者价格，并最终带来福利收益。政府的公共投资和企业的私人投资以三个阶段的游戏为模型，其中第一阶段的政府投资到基础研究水平，然后企业在第二阶段的基础上通过这种公共提供的“技术”进行私人研发。我们发现，相对于基础研究水平，私人研发投资是驼峰形的。对于较低级别的公共和私人投资是补充，而对于较高级别的它们是替代。
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