Why don't recessions encourage more R&D spending?
AbstractEconomists sometimes argue that recessions promote activities that ultimately contribute to long-run growth. But evidence suggests research and development, one important source of economic growth, falls rather than rises during recessions, even for firms that do not appear to be credit constrained. The author discusses an alternative explanation for this pattern.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Chicago in its journal Chicago Fed Letter.
Volume (Year): (2005)
Issue (Month): Nov ()
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- Patrick Francois & Huw Lloyd-Ellis, 2006. "Intrinsic Business Cycles with Pro-Cyclical R&D," Working Papers 1102, Queen's University, Department of Economics.
- Christian Rammer, 2011.
"Auswirkungen der Wirtschaftskrise auf die Innovationstätigkeit der Unternehmen in Deutschland,"
Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research,
DIW Berlin, German Institute for Economic Research, vol. 80(3), pages 13-34.
- Rammer, Christian, 2011. "Auswirkungen der Wirtschaftskrise auf die Innovationstätigkeit der Unternehmen in Deutschland," ZEW Discussion Papers 11-070, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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