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Responding to the increased attention on the distributional aspects of monetary policy, we investigate the reallocation among heterogeneous firms triggered by nominal growth. Japanese firm-level data show that large firms invest more in R&D and grow faster than small firms under higher...
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assume that pandemics pose a threat to research productivity and analyse the long-term consequences of pandemic shocks to …. Pandemic shocks lead to a short-term drop in the number of patent applications. Crucially, the duration of a pandemic has a … effect of the “Great Lockdown” on research productivity. Policies that target the more innovative firms are moving in the …
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In the last few decades, real GDP growth and investment in advanced countries have declined in tandem. This slowdown was not the result of weak demand (there has been no shift along the Okun curve), but of a decline in potential output growth (which has shifted the Okun curve to the left). We...
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To what extent can Quantitative Easing impact productivity growth? We document a strong and heterogeneous response of …
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model (VECM) was adopted as the estimation technique of the study. Findings show that there is no bidirectional granger …
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