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I identify new patterns in countries' economic performance over the 2007-2014 period based on proximity through distance, trade, and finance to the US subprime mortgage and Eurozone debt crisis areas. To understand the causes of the cross-country variation, I develop an open economy model with...
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innovation activities during periods of recession. We empirically analyse what general patterns can be distinguished in this …: some companies have recently reduced their innovation activities significantly, while others maintained them and a third … deceleration of R&D and innovation activities induced by the crisis, but the trend figures remain positive. Driven by the companies …
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