Strategic and tactical decisions, sunk costs and firm size effects in R&D
AbstractThis paper investigates asymmetric effects of monetary policy over the business cycle. A two-state Markov Switching Model is employed to model both recessions and expansions. For the United States and Germany, strong evidence is found that monetary policy is more effective in a recession than during a boom. Also some evidence is found for asymmetry in the United Kingdom and Belgium. In the Netherlands, monetary policy is not very effective in either regime.
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Bibliographic InfoPaper provided by University of Groningen, Research Institute SOM (Systems, Organisations and Management) in its series Research Report with number 98B19.
Date of creation: 1998
Date of revision:
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- Nooteboom, B., 1991. "Entry, spending and firm size in a stochastic R&D race," Open Access publications from Tilburg University urn:nbn:nl:ui:12-373055, Tilburg University.
- Felder, Johannes & Harhoff, Dietmar & Licht, Georg & Nerlinger, Eric A. & Stahl, Harald, 1994. "Innovationsverhalten der deutschen Wirtschaft: Ergebnisse der Innovationserhebung 1993," ZEW Dokumentationen 94-01, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Archibugi, Daniele & Cesaratto, Sergio & Sirilli, Giorgio, 1991. "Sources of innovative activities and industrial organization in Italy," Research Policy, Elsevier, vol. 20(4), pages 299-313, August.
- Felder, Johannes & Harhoff, Dietmar & Licht, Georg & Nerlinger, Eric A. & Stahl, Harald, 1994. "Innovationsverhalten der deutschen Wirtschaft: Methodenbericht zur Innovationserhebung 1993," ZEW Dokumentationen 94-06, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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