Research and Development, Productivity, and Inflation
- 5 September 1980
- journal article
- Published by American Association for the Advancement of Science (AAAS) in Science
- Vol. 209 (4461) , 1091-1093
- https://doi.org/10.1126/science.209.4461.1091
Abstract
R & D, through its effects on the rate of productivity increase, can significantly restrain the rate of inflation in the medium and long run. High rates of inflation damage the workings of the price system and impair the efficiency of practically all economic activities, including R & D. Findings suggest that the percentage increase between 1969 and 1979, in total real R & D expenditures, has been exaggerated due to the inadequacy of the gross national product deflator as applied to R & D.Keywords
This publication has 2 references indexed in Scilit:
- The Great Stagflation SwampChallenge, 1977
- Contribution of R&D to Economic Growth in the United StatesScience, 1972