&D investment over total investment is countercyclical without credit constraints, but it becomes more procyclical as firms face …; (iii) in more credit constrained firms, R&D investment share plummets during recessions but does not increase … proportionally during upturns; (iv) average R&D investment and productivity growth are more negatively correlated with sales …

. We use new French tax returns data on the self-employed from 1994 to 2012. France has three fiscal regimes for the self …

in overstated inflation and understated growth. This paper uses the theory and methodology developed by Aghion et al …. (2017) to quantify in the case of France how much of productivity growth is missed by statistical offices because of this …. Using the census of plants in France, we find that from 2004 to 2015, about 0.5 percentage point of real output growth per …

income is down, mostly due to the rising market share of low labor share firms. We propose a theory for these trends in which …