and social outcomes? We study Catholic patron saint day festivals in Mexico, exploiting two features of the setting: (i …

public R&D and private R&D -- as if R&D were the same as any other form of investment, such as physical capital investment …

Abstract U.S. firms have reduced their investment in scientific research ("R") compared to product development ("D …"), raising questions about the returns to each type of investment, and about the reasons for this shift. We use Census data that … cost. Companies with greater demand for refinancing during the 2008 financial crisis made larger cuts to R&D investment …

, scope, and investment decisions, and we outline their connection to recent macroeconomic and financial trends in the US …

to CNC increased capital investment and experienced higher labor productivity. Total employment rose, with gains for …

We study how tax policies that lower the cost of capital impact investment and labor demand. Difference …-in-differences estimates using confidential US Census Data on manufacturing establishments show that tax policies increased both investment and … investment is greater in plants with lower labor costs. Our results show that recent tax policies that incentivize capital …

In recent years, US investment has been lackluster, despite rising valuations. Key explanations include growing rents … -- reflected in average Q -- and investment -- reflected in marginal q -- can be decomposed into three terms: the value of …