Filep-Mosberger, Palma; Kaszab, Lorant; Ren, Zhou - 2023
horizontal and vertical innovation match financial data well due to countercyclical dividends which are either procyclical or … acyclical in US data. Countercyclical dividends redistribute income from consumption towards investment in innovation improving …) countercyclical dividends are the result of high monopoly markups. When markup is lowered from their benchmark 65 percent to 60 or 55 …