Pellens, Maikel; Peters, Bettina; Hud, Martin; Rammer, … - 2021 - First version: January 2018, this version: November 2020
&D reacts asymmetrically over different phases of the business cycle and becomes acyclical during recessions. It is also … innovators behave procyclically. Furthermore, the share of public R&D allocated to the business sector is countercyclical, but …