RT info:eu-repo/semantics/article
T1 The impact of economic policy uncertainty and monetary policy on R&D investment: An option pricing approach
A1 Horra Ruiz, Luis Pablo de la
A1 Perote Peña, Javier
A1 Fuente Herrero, Gabriel de la
K1 Monetary policy
K1 Política monetaria
K1 Research and development
K1 Investigación y desarrollo
AB 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.
PB Elsevier
SN 0165-1765
YR 2022
FD 2022
LK https://uvadoc.uva.es/handle/10324/52497
UL https://uvadoc.uva.es/handle/10324/52497
LA eng
NO Economics Letters, 2022, vol. 214, 110413
NO Producción Científica
DS UVaDOC
RD 12-nov-2024