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Market power, industrial concentration and innovative activity

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  • Vossen, Robert W.

    (Groningen University)

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    Abstract

    This 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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    File URL: http://irs.ub.rug.nl/ppn/17486888X
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    Bibliographic Info

    Paper provided by University of Groningen, Research Institute SOM (Systems, Organisations and Management) in its series Research Report with number 98B20.

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    Date of creation: 1998
    Date of revision:
    Handle: RePEc:dgr:rugsom:98b20

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    1. Nooteboom, B., 1993. "Firm size effects on transaction costs," Open Access publications from Tilburg University urn:nbn:nl:ui:12-376115, Tilburg University.
    2. Pavitt, Keith, 1984. "Sectoral patterns of technical change: Towards a taxonomy and a theory," Research Policy, Elsevier, vol. 13(6), pages 343-373, December.
    3. Allen, Bruce T, 1969. "Concentration and Economic Progress: Note," American Economic Review, American Economic Association, vol. 59(4), pages 600-604, Part I Se.
    4. Harabi, Najib, 1994. "Technischer Fortschritt in der Schweiz: Empirische Ergebnisse aus industrieökonomischer Sicht
      [Technischer Fortschritt in der Schweiz:Empirische Ergebnisse aus industrieökonomischer Sicht]
      ," MPRA Paper 6725, University Library of Munich, Germany.
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