On the Timing of Innovation in Stochastic Schumpeterian Growth Models
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https://www.nber.org/papers/w10741
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资源简介：
Recent work has revived the Schumpeterian hypothesis that recessions facilitate innovation and growth. But a major source of productivity growth, research and development, is actually procyclical. This paper argues that while it is optimal to concentrate growth-enhancing activities in downturns,
提供机构：
美国国家经济研究局
创建时间：
2004-09-01
