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...

This article aims at estimating leading indicators of the American economy with financial variables. We use two types of hidden Markov chains models, a quantitative one (Krolzig (1997)) and a qualitative one (Gregoir and Lenglart (2000)). These models provide a robust and reliable framework to...

Seit Ausbruch der Wirtschaftskrise findet das Thema Löhne besondere Beachtung auf europäischer Ebene, wobei die Mechanismen zur Lohnfestsetzung immer mehr in den Mittelpunkt der Diskussion rücken. Insgesamt blieben die Tarifverhandlungssysteme relativ unverändert, allerdings waren in den...