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Monetary Policy, R&D and Economic Growth in an Open Economy
Chu, Angus C.; Cozzi, Guido; Lai, Ching-Chong; Liao, … - School of Economics and Political Science, Universität … - 2013
This study analyzes the growth and welfare effects of monetary policy in a two-country Schumpeterian growth model with cash-in-advance constraints on consumption and R&D investment. We find that an increase in the domestic nominal interest rate decreases domestic R&D investment and the growth...
Persistent link: https://www.econbiz.de/10010676249
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A tale of two growth engines: The interactive effects of monetary policy and intellectual property rights
Chu, Angus C.; Lai, Ching-Chong; Liao, Chih-Hsing - Volkswirtschaftliche Fakultät, … - 2010
growth engines (i.e., innovation versus capital accumulation). We also calibrate the two models using data in the US and the …
Persistent link: https://www.econbiz.de/10008919789
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A Tale of Two Growth Engines: The Interactive Effects of Monetary Policy and Intellectual Property Rights
Chu, Angus C.; Lai, Ching-Chong; Liao, Chih-Hsing - Institute of Economics, Academia Sinica - 2010
two growth engines (i.e., innovation versus capital accumulation). Finally, we simulate the transition dynamics of the R …
Persistent link: https://www.econbiz.de/10008682257
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Monetary Policy, R&D and Economic Growth in an Open Economy
Chu, Angus C.; Cozzi, Guido; Lai, Ching-Chong; Liao, … - Volkswirtschaftliche Fakultät, … - 2013
This study analyzes the growth and welfare effects of monetary policy in a two-country Schumpeterian growth model with cash-in-advance constraints on consumption and R&D investment. We find that an increase in the domestic nominal interest rate decreases domestic R&D investment and the growth...
Persistent link: https://www.econbiz.de/10011170142