To be comparable with the notion of cumulative capacity, in these fashions R&D is typically aggregated right into a stock of R&D capital. Thus, endogeneity is a priority, as we would expect each investments in capacity to be a function of past R&D expenditures and R&D expenditures to be influenced by capacity, which helps determine demand for R&D. Söderholm and Sundqvist address this endogeneity of their paper and find LBD charges round 5%, and LBS rates round 15%, suggesting that R&D, quite than LBD, contributes more to price reductions.
Private Property Tax
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