Online First The Economic Journal Online 9 May 2026Macroeconomic Effects of Public R&DVincenzo De Lipsis · Matteo Deleidi · Mariana Mazzucato · Paolo AgnolucciThis paper estimates the dynamic macroeconomic effects of US government R&D investment using a Structural Vector Autoregressive (SVAR) framework, with an extension to a Rational Expectations SVAR …