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Título
The impact of economic policy uncertainty and monetary policy on R&D investment: An option pricing approach
Año del Documento
2022
Editorial
Elsevier
Descripción
Producción Científica
Documento Fuente
Economics Letters, 2022, vol. 214, 110413
Resumen
This paper adopts a real options approach to investigate the effects of economic policy uncertainty (EPU) and monetary policy on R&D investment. Using a panel of U.S. firms over the period 2000-2019, we show that higher (lower) EPU and contractionary (expansionary) monetary policy exert a positive (negative) and significant influence on R&D investment. Our findings shed light on the counter-intuitive behavior of R&D investments, which may help policymakers to anticipate such collateral effects.
Palabras Clave
Monetary policy
Política monetaria
Research and development
Investigación y desarrollo
ISSN
0165-1765
Revisión por pares
SI
Patrocinador
Ministerio de Ciencia, Innovación y Universidades (project PID2020-114797GB-I00)
Propietario de los Derechos
© 2022 The Authors
Idioma
eng
Tipo de versión
info:eu-repo/semantics/publishedVersion
Derechos
openAccess
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