Nontradable goods prices and per-caita income: an application to regional Korean data |
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| Authors: | Irene Henriques |
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| Institution: | Faculty of Administrative Studies , York University , Keele Street, North York , Ontario , 4700 , CanadaM3J Iip2 |
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| Abstract: | A system of demand equations (given oligopolistic interdependence amon firms) is derived and estimated for two four-digit SIC code industries to explain firms' R&D behaviour through time. The two industries chosen are the perfume, cosmetic and toiletries (PCT) industry, and the drug industry. The industries chosen belong to the same two-digit SIC code classification called the Cchemical and Allied Products industry but not in the drug industry. The introduction of the R&D tax credit in 1981, however, reduced the tendency to free-ride in both industries. |
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