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This paper examines how bilateral political tensions between the U.S. and other countries impact the innovation of US …, reducing innovation outputs. Teams including inventors in politically divided countries generate fewer and less impactful … domestic innovation within US multinationals, leading to declines in firm-wide inventive performance …
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We develop an analysis of ex ante monitoring of risky projects in banking. If protected from competition, banks are more concerned about not catching good risk projects when the perceived state of the economy improves, while they are more concerned about being induced to finance bad risk...
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