to U.S. domestic investment data illustrates the method. Dans cet article, nous proposons des procédures d …

. Our approach is different, as it rests on the estimation of a bivariate VAR. Variables used are the budget balance in …

, the investment of oil revenues, economic growth, unemployment rate, inflation rate, using the Johansen multivariate … cointegration techniques as well as VAR model for the period 2000-2015. The results indicate that there is not a long relationship … between these four macroeconomic variables. The impulse functions and the variance decomposition from the stationary VAR show …

&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 …