The objectives of this paper are, first, to analyze whether banks' risk-taking can be explained by factors contributing to implicit guarantees and by factors associated with banks' business models. Second, it analyzes how risk-taking associated with these factors has changed from a period before...

This study investigates how corporate R&D evolves in the light of the contemporary economic crisis. We study empirical evidence from past downturns, discuss the relevant literature, and perform an empirical analysis of recent business survey data (collected during 2009). Pivotal for our...