Monetary Policy and Innovation
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We document that monetary policy has a substantial impact on innovation activities. After a tightening shock of 100 basis points, research and development (R&D) spending declines by about 1 to 3 percent and venture capital (VC) investment declines by about 25 percent in the following 1 to 3 years.
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美国国家经济研究局创建时间：
2023-09-01
