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A healthy financial system encourages the efficient allocation of capital and risk. The collapse of the house price bubble led to the financial crisis that started in 2007. There is a large empirical literature concerning the relation between asset price bubbles and financial crises. I evaluate...
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heavily on the valuation of patent rights, as this gives a possible measurement of innovation output. … heavily on the valuation of patent rights, as this gives a possible measurement of innovation output. …
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