NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The R&D Tax Credit in France: Assessment and Ex-Ante Evaluation of the 2008 Reform

Benoît Mulkay, Jacques Mairesse

NBER Working Paper No. 19073
Issued in May 2013
NBER Program(s):   PR

This article presents an econometric analysis of the direct effects of the R&D tax credit (RTC) on private R&D in France and proposes an ex ante evaluation of the major reform implemented in 2008. We first estimate an error correction model of a dynamic R&D demand function on a large panel data of R&D doing firms, obtaining a preferred estimate of -0.4 for the long run elasticity of the user cost of R&D capital. We then perform a micro-simulation of the effects of the 2008 RTC reform that shows that the implicit long run budget multiplier would be about 0.7.

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Document Object Identifier (DOI): 10.3386/w19073

Published: Beno�t Mulkay & Jacques Mairesse, 2013. "The R&D tax credit in France: assessment and ex ante evaluation of the 2008 reform," Oxford Economic Papers, Oxford University Press, vol. 65(3), pages 746-766, July. citation courtesy of

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