-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 …

heterogeneous across countries: Innovation leaders and followers behave countercyclically during recessions while moderate … countries behind the innovation frontier might strengthen their resilience to economic crises by adopting countercyclical R …