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Framework for the Analysis of Research and Adoption Activities and their Macroeconomic Effects

Deliverables

Report on simulations exploring policy interventions

Report containing a full description of the simulations exploring the policy interventions in Task 1.4: Conduct policy experiments to assess the macroeconomic impact of various innovation policies. This will involve simulating the impulse response functions to un-anticipated changes in the policy variables. The policies considered will include: • Increase in R&D subsidy • Increase in public R&D activity • Increase in spending in public activities directed to fostering the diffusion of new technologies to the private sector • Introduction of a subsidy to skilled workers • Expansionary fiscal policy through increases in government spending vs. reduction in income or corporate taxes. This task will be carried out by CEPR and UPF.

Scientific paper reporting the final results of the model specification, parameterization and calibration

Scientific paper reporting the final results of the model specification, parameterization and calibration, to be circulated in the CEPR Discussion Paper Series and the UPF Working Paper series and submitted for publication to an academic journal.

Final report on multi-country extension of baseline model with recalibration

Once the final estimates of the key parameters concerning the innovation process from WP6 are obtained, we will proceed to recalibrate the model. Additionally, we will incorporate the feedback from the steering board. The final report will contain the final description of the multi-country model, together with the literature review and the discussion of the policy simulations.

Scientific paper reporting the final results of the model specification, parameterization and calibration of model including labour markets

Scientific paper reporting the final results of the model specification, parameterization and calibration, to be circulated in the CEPR Discussion Paper Series (http://cepr.org/pubs/new-dps/dpsearch.asp) and the IGIER Working Paper series (http://www.igier.unibocconi.it/index.php?vedi=182&id_folder=4878&tbn=albero) and submitted for publication to an academic journal.

Report with full specified baseline model and code for simulation

This report will be based on the results of Tasks 1.1, 1.2 and 1.3: Task 1.1: Specify the baseline model. The baseline model is a one-country, one sector, neo-Keynesian DSGE model with two types of labour (skilled and unskilled), and price rigidities a la Calvo and wage rigidities as in Erceg, Henderson and Levin (2000). The baseline model has three key distinguishing features: (i) The technology in the economy is endogenous and the result of innovation activities; (ii) companies need to invest to adopt new technologies resulting in an endogenous speed of diffusion of new technologies; (iii) public R&D and innovation activities contribute to enhancing the productivity of private R&D as well as in facilitating the diffusion of technologies to private companies. This task will be carried out by CEPR. Task 1.2: Write the Dynare code for the log-linearized dynamic system. This code will describe the steady state ratios and growth rates of the relevant variables as well as the dynamic equations that describe the evolution of the stochastic system. This task will be carried out by UPF. Task 1.3: Calibrate the standard parameters (i.e. those not related to innovation – the parameters related to technology development and adoption will be calibrated in WP6.). We will conduct a literature review to find the range of values used to calibrate the standard parameters of the models. These include the parameters corresponding to the household preferences, the production function, depreciation rates, price and wage rigidities and monetary policy rules. This task will be carried out by CEPR.

Scientific paper reporting the final results of the model specification, parameterization and calibration of model extended to multi-country setting

"Scientific paper reporting the final results of the model specification, parameterization and calibration, to be circulated in the CEPR Discussion Paper Series (http://cepr.org/pubs/new-dps/dpsearch.asp) and the LBS Working Paper series (https://www.london.edu/faculty-and-research/academicresearch?subjectarea=Economics#searchresults) and submitted for publication to an academic journal."

Interim report on multi-sector extension of baseline model

The interim report will contain a detailed description of the multi-sector extension of the baseline model, the literature review of the standard parameters, and a preliminary description of the policy simulations. The aim of this report to gain feedback from the steering board and other stakeholders.

Dissemination, communication, and exploitation report year 1

A report on the dissemination, communication, and exploitation activities which have taken place in months 1 through 12 of the project.

Final Data Management Plan

Update compendium of data used in FRAME providing the source of the data, openness statues and the ways to access the data.

Scientific paper reporting the estimation methodology, the parameter estimates and the data sources

Scientific paper reporting the estimation methodology, the parameter estimates and the data sources, to be circulated in the CEPR Discussion Paper Series (http://cepr.org/pubs/new-dps/dpsearch.asp), the ZEW Working Paper series (http://www.zew.de/en/publikationen/zew-discussion-papers/), the CIRCLE discussion paper series (http://www.circle.lu.se/publications/working-papers/);the UPF Working Paper series (http://www.econ.upf.edu/en/research/papers.php), and submitted for publication to an academic journal.

Interim report with specifications for skill-levels for baseline model

The interim report will contain a detailed description of the model, the literature review of the standard parameters, a literature review of estimates from Mincerian regressions and how we intend to use them to calibrate the skill accumulation parameters, and a preliminary description of the policy simulations. The aim of this report to gain feedback from the steering board and other stakeholders.

Interim report on multi-country extension of baseline model

The interim report will contain a detailed description of the multi-country extension of the baseline model, the literature review of the standard parameters, a literature review of estimates of international trade parameters, and a preliminary description of the policy simulations. The aim of this report to gain feedback from the Scientific Advisory Board and other stakeholders.

Interim report on baseline model extended to include labour markets

The interim report will contain a detailed description of the baseline model extended to include labour markets, the literature review of the standard parameters, a literature review of estimates of the parameters related to the labour market frictions, and a preliminary description of the policy simulations. The aim of this report to gain feedback from the Scientific Advisory Board and other stakeholders.

Scientific paper reporting the final results of the model specification, parameterization and calibration of model extended to education investment

"Scientific paper reporting the final results of the model specification, parameterization and calibration, to be circulated in the CEPR Discussion Paper Series (http://cepr.org/pubs/new-dps/dpsearch.asp) and the LBS Working Paper series (https://www.london.edu/faculty-and-research/academic-research?subjectarea=Economics#searchresults) and submitted for publication to an academic journal."

Final report on multi-sector extension of baseline model with recalibration of multi-sector model

Once the final estimates of the key parameters concerning the innovation process from WP6 are obtained, we will proceed to recalibrate the model. Additionally, we will incorporate the feedback from the steering board. The final report will contain the final description of the multi-sector model, together with the literature review and the discussion of the policy simulations.

Final report on baseline model extended to education investment with recalibration

Once the final estimates of the key parameters concerning the innovation process from WP6 are obtained, we will proceed to recalibrate the model. Additionally, we will incorporate the feedback from the steering board. The final report will contain the final description of the model from WP3, together with the literature review and the discussion of the policy simulations.

Scientific paper on final results of the model specification, parametrisation, and calibration of multi-sector extension of baseline model

Scientific paper reporting the final results of the model specification, parameterization and calibration, to be circulated in the CEPR Discussion Paper Series (http://cepr.org/pubs/new-dps/dpsearch.asp) and the UPF Working Paper series (http://www.econ.upf.edu/en/research/papers.php) and submitted for publication to an academic journal.

Interim report with literature review on estimation of parameters and elasticities with respect to public/private R&D

Interim report presenting a literature review of the relevant scientific works dealing with the estimation of parameters P1-P6. D1 shall in particularly include a discussion and a proposition for the estimation of the parameters and the prospective data sources. The aim of this report to gain feedback on the subsequent estimation phase from the steering board and other stakeholders.

Final report with exact methodology and estimation results

Finalized report extending D6.1 by a thorough description of the exact methodology and the estimation results for P1-P6.

Final report on baseline model extended with labour markets including recalibration

Once the final estimates of the key parameters concerning the innovation process from WP6 are obtained, we will proceed to recalibrate the model. Additionally, we will incorporate the feedback from the steering board. The final report will contain the final description of the model from WP5, together with the literature review and the discussion of the policy simulations.

Dissemination, communication and exploitation report year 2

A report describing the dissemination, communication, and exploitation activities which have taken place in year 2 of the project.

Data Management Plan

Compendium of the data used in the project and indicate their openness statues and where the data are available

Online video clip midterm conference

Online video clip of the mid-term conference.

Project publishing channels

• Establishing communication platforms (website, Twitter, LinkedIn, YouTube). • Create the project branding (templates, colours and fonts to be used), produce a project logo and use it consistently on its web site and its communications. • Prepare the initial set of communication materials (flyers, posters, pop-up stand and banner). • Create the project website, under the .eu domain

First research workshop, midterm policy conference, voxEU column

The project will disseminate its midterm findings to a broader audience through a workshop, a policy conference, an online video, and a column on VoxEU. A summary report on the conference will be produced. VoxEU: The research team will also be encouraged to publish their results on VoxEU.org, CEPR's policy portal, which promotes the dissemination of research-based policy analysis and commentary by leading economists. The site receives about 250,000 hits per month, and has become the premier economic policy portal in Europe. Whilst it is of course hard to predict that number of downloads that a future column will receive, a 2013 column on ‘Technology and income dynamics: 1800-2000’ by Diego Comin and Martí Mestieri received almost 26,000 reads. We would expect a similar number of ‘hits’ for columns produced by members of the FRAME research team. Multimedia – audio and video podcasts: The project will take advantage of the experience of both CEPR and ZEW in using streaming audio and video podcasts to communicate research findings in a very convenient and user friendly fashion. In recent years CEPR has been pushing forward on promoting audio-visual content for the CEPR and VoxEU websites. If done properly, this is an extremely effective way to reach large numbers of numbers of people with interesting and varied content that is targeted directly at people's interests. CEPR has developed a close relationship with a production company which specialises in producing high quality interviews and short films about economic issues. An example of this is a conference organised in collaboration with the Brevan Howard Centre for Financial Analysis at Imperial College London and the Swiss National Bank, which brought together academics, practitioners and policymakers to discuss the relevance of a zero lower bound theory and the realities of an effective lower bound. The resulting interviews have received over 8000 views. In the context of the FRAME project we envisage filming a number of interviews with both academics and policy-makers at one or more of the project's workshops and conferences. These interviews will then be posted on the CEPR and Vox websites, and on the project website, and an announcement will be mailed to the FRAME and CEPR mailing list so as to ensure as widespread dissemination as possible. In addition, FRAME will use ZEW’s YouTube channel.

Online video clip lunch time seminar, online video clip final conference

This deliverable will contain an online video clip about the final conference.

Lunch time seminar, second research workshop, final policy conference, voxEU column

The project will disseminate its final findings to a broader audience through a workshop, a policy conference, an online video, and a column on VoxEU. A summary report on the conference will be produced. The second project workshop will be a one-day user event organized back-to-back with the final policy conference. VoxEU: The research team will also be encouraged to publish their results on VoxEU.org, CEPR's policy portal, which promotes the dissemination of research-based policy analysis and commentary by leading economists. The site receives about 250,000 hits per month, and has become the premier economic policy portal in Europe. Whilst it is of course hard to predict that number of downloads that a future column will receive, a 2013 column on ‘Technology and income dynamics: 1800-2000’ by Diego Comin and Martí Mestieri received almost 26,000 reads. We would expect a similar number of ‘hits’ for columns produced by members of the FRAME research team. Multimedia – audio and video podcasts: The project will take advantage of the experience of both CEPR and ZEW in using streaming audio and video podcasts to communicate research findings in a very convenient and user friendly fashion. In recent years CEPR has been pushing forward on promoting audio-visual content for the CEPR and VoxEU websites. If done properly, this is an extremely effective way to reach large numbers of numbers of people with interesting and varied content that is targeted directly at people's interests. CEPR has developed a close relationship with a production company which specialises in producing high quality interviews and short films about economic issues. An example of this is a conference organised in collaboration with the Brevan Howard Centre for Financial Analysis at Imperial College London and the Swiss National Bank, which brought together academics, practitioners and policymakers to discuss the relevance of a zero lower bound theory and the realities of an effective lower bound. The resulting interviews have received over 8000 views. In the context of the FRAME project we envisage filming a number of interviews with both academics and policy-makers at one or more of the project's workshops and conferences. These interviews will then be posted on the CEPR and Vox websites, and on the project website, and an announcement will be mailed to the FRAME and CEPR mailing list so as to ensure as widespread dissemination as possible. In addition, FRAME will use ZEW’s YouTube channel.

Open Research Data Repository

The project will participate in the pilot on Open Research Data. We summarize below how the Consortium plans to manage the data it collects during the project. The data collection in the project centres on the empirical parameterization in WP6. The parameterization will depend four different datasets: i) A public/private R&D patent panel dataset differentiated by countries and technologies; data will be gathered from PATSTAT and national R&D statistics. ii) A matched German CIS-Fraunhofer panel dataset iii) The European CIS datasets iv) A matched US defence patents R&D dataset The aim of this project is to devise fully parameterized DSGE models as described in WP1-WP6. To facilitate the impact and the uptake of the project results and to promote them for policy use/evaluation we follow the following principles: • Data availability and public disclosure inline with privacy concerns of the data providor • Teaching and training of external users and scientists based on the original data • Maximum transparency by providing codes used for statistical analyses and macroeconometric modelling As concerns data availability, unless specific confidentiality requirements prevent it, we will make all data gathered in the course of this project publicly available. The consortium will hold the rights on dataset 1 and 4 as these data will be assembled by the consortium partners based on public sources. These data will be made available on the project website. The rights on dataset 3 are held by Eurostat and this dataset is already generally available for research purposes through Eurostat. The contract data in dataset 2 belongs to the Fraunhofer Society is confidential. However, the resulting estimates of the core parameters in WP6 will be made publicly available. With respect to the training activities, we will further use the datasets within the planned summer school and the training workshop. Participants will therefore get access to the original data used within the course of the project. For these workshops we will also seek permission from the legal representatives of the Fraunhofer Society to use a strictly micro-anonymised version of dataset 2. Although this data cannot be shared physically, ZEW is a nationally recognized centre for research data. ZEW has extensive experience in protection of sensible data and anonymity. Access to the confidential data might be enabled for remote desktop access to allow the participants to work on the Fraunhofer data without comprising anonymity. In order to increase transparency, we will make the software codes (STATA, R, Gauss, MATLAB, Dynare) used for the analyses performed during the project publicly available on the website and through a suitable software repository, for example GITHUB. Knowledge Management: All the Deliverables from the project, will, of course, be freely available on the project website after approval by the Commission. Whenever possible we will try to ensure that the scientific papers are also freely available. This will not present any difficulty at the pre-publication stage, since the partners will make FRAME discussion papers and working papers freely available on the web. When possible we will try to publish these papers in open access journals, thus ensuring “gold” open access, but we can envisage situations in which this will not be feasible. For these papers we will ensure “green” open access by archiving the published version of the paper in a suitable open access repository after any embargo period imposed by the publisher of the journal. Management of Intellectual Property: The partners all have significant previous experience in the field. This knowledge will be utilised to produce new and important information and results which the Consortium will aim to share as widely as possible. IPR and its management will be detailed in the Consortium Agreement, specifically with regards to the dissemination and use of knowledge and granting of acces

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