Uncertainty and the Dynamics of R&D
收藏NBER2007-01-01 更新2025-01-04 收录
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https://www.nber.org/papers/w12841
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资源简介：
Uncertainty varies strongly over time, rising by 50% to 100% in recessions and by up to 200% after major economic and political shocks. This paper shows that higher uncertainty reduces the responsiveness of R&D to changes in business conditions - a "caution-effect" - making it more persistent over
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美国国家经济研究局创建时间：
2007-01-01
