reforms that would likely increase the rate of innovation and the number of startups due to immigrants in the country. Key …

demand, borrowing-constraints and the profitability of engaging in innovation (R&D). We decompose the effects of RER changes …

-in-differences design to causally identify the short-run impact of COVID-19 on innovation spending in 2020 and expected innovation spending … substantially reduced innovation expenditure not only in the first year of the pandemic (2020) but also in the two subsequent years …, indicating ’Long–Covid’ effects on innovation. In 2020, innovation expenditure fell by 4.7 % due to the pandemic. In 2022 …