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- W2267570348 abstract "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 time. Thus, uncertainty will play a critical role in shaping the dynamics of R&D through the business cycle, and its response to technology policy. I also show that if fi?rms are increasing their level of R&D then the effect of uncertainty will be negative, while if fi?rms are reducing R&D then the effect of uncertainty will be positive." @default.
- W2267570348 created "2016-06-24" @default.
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- W2267570348 date "2007-01-01" @default.
- W2267570348 modified "2023-09-27" @default.
- W2267570348 title "Uncertainty and the dynamics of R&D" @default.
- W2267570348 hasPublicationYear "2007" @default.
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