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Panel data is used to investigate the extent of R&D spillovers between OECD countries, and the importance of barriers to technology adoption in affecting the benefits of such spillovers. Our results indicate that countries with less regulated goods and labour markets benefit more from foreign R&D.
Persistent link: https://www.econbiz.de/10005427658
Panel data is used to investigate the extent of R and D spillovers between OECD countries, and the importance of barriers to technology adoption in affecting the benefits of such spillovers. Our results indicate that countries with less regulated goods and labour markets benefit more from...
Persistent link: https://www.econbiz.de/10005416871
In this paper we study the role of financial systems for the cost channel transmission of monetary policy in a calibrated business cycle model. We analyze the different effects that monetary policy has on the economy, in particular on output and inflation, which are due to differences in...
Persistent link: https://www.econbiz.de/10004977152
In this paper we analyze equilibrium determinacy in a sticky price model in which the pass-through from policy rates to retail interest rates is sluggish and potentially incomplete. In addition, we empirically characterize and compare the interest rate pass-through process in the euro area and...
Persistent link: https://www.econbiz.de/10004978112