Pellens, Maikel; Peters, Bettina; Hud, Martin; Rammer, … - 2021 - First version: January 2018, this version: November 2020
We study the cyclicality of public R&D in 28 OECD countries (1995 - 2017). While procyclical on average, public R&D reacts asymmetrically over different phases of the business cycle and becomes acyclical during recessions. It is also heterogeneous across countries: Innovation leaders and...
