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We use a French firm-level panel data set over the period 1993-2004 to analyze the relationship between credit constraints and firms' R&D behavior over the business cycle. Our main results can be summarized as follows: (i) the share of R&D investment over total investment is countercyclical...
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. We use new French tax returns data on the self-employed from 1994 to 2012. France has three fiscal regimes for the self …
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