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We study the consequences of the COVID-19 pandemic on productivity by matching firm performance outcomes with corresponding firm-level information on government support. Our cross-country evidence for five EU countries shows that the pandemic led to a significant short-term decline in...
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our policy application on government subsidies to firms, estimation results strongly suggest that subsidy-receiving firms … are less likely to die, regardless of the type of subsidy. However, with regard to recovery there is heterogeneity in the … effects depending on the type of firm and the type of subsidy received. Thus, we do not find a robust positive association of …
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We construct a model of innovation incorporating R&D externalities, R&D participation, financial market imperfections, and application and allocation of R&D subsidies, estimate it using Finnish R&D project level data and conduct a welfare analysis. The intensive, not the extensive R&D margin is...
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