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We estimate a model in which fiscal and monetary policy obey the targeting rules of distinct policy authorities, with potentially different objective functions. We find: (1) Time‐consistent policy fits U.S. time series at least as well as instrument‐rules‐based behavior; (2) American...
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and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation … export and innovation activities to become substitutes although they are generally natural complements. …
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PISA reports, the Academic Ranking of World Universities (ARWU) and the Global Innovation Index of the World Bank. The … Asian group ranked highest for innovation as shown through the application of patents; they also obtained the highest scores … group, Germany is recognized by its innovation capabilities and the Netherlands by the quality of its higher education. …
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the comparative analysis suggests the need to strengthen local innovation in order to increase the ability to catching …
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