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This paper investigates the contribution of local knowledge endowment to employment growth in nanotechnology firms. We … exploit a unique data set focusing on firms operating in fields that apply nanotechnology. Our findings suggest that regions … older firms. -- Employment growth ; local knowledge endowment ; general purpose technology ; specialisation ; nanotechnology …
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This paper employs stochastic simulations of a small structural rational expectations model to investigate the consequences of the zero bound on nominal interest rates. We find that if the economy is subject to stochastic shocks similar in magnitude to those experienced in the U.S. over the...
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