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RBA Glossary definition for R&D
R&D – research and development
Search Results
Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data
15 Feb 2024
RDP
2024-01
We find that contractionary (expansionary) monetary policy reduces (increases) aggregate research and development (R&D) spending, and that lower (higher) R&D spending reduces (increases) future productivity.
https://www.rba.gov.au/publications/rdp/2024/2024-01.html
Results
15 Feb 2024
RDP
2024-01
Download the Paper 1.23. MB. In this section, we examine how monetary policy shocks affect patents, trademarks and R&D activity. ... This provided no evidence of a significant effect on R&D spending, likely reflecting the strong (and likely inaccurate)
https://www.rba.gov.au/publications/rdp/2024/2024-01/results.html
Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data
15 Feb 2024
RDP
2024-01
Aggregate (log) R&D spending data from the Australian Bureau of Statistics (ABS) national accounts. ... TFP. Based on a Cholesky decomposition with R&D spending ordered last. VAR(1) model.
https://www.rba.gov.au/publications/rdp/2024/2024-01/full.html
Conclusion
15 Feb 2024
RDP
2024-01
Consistent with the overseas literature, we find evidence for Australia that contractionary (expansionary) monetary policy shocks are associated with a decline (increase) in R&D spending. ... We also find that declines (increases) in R&D spending are
https://www.rba.gov.au/publications/rdp/2024/2024-01/conclusion.html
References
15 Feb 2024
RDP
2024-01
Mancusi ML and A Vezzulli (2010), ‘R&D, Innovation and Liquidity Constraints’, Knowledge, Internationalization and Technology Studies, Università Bocconi, KITeS Working Paper No 30/2010. ... Ouyang M (2011), ‘On the Cyclicality of R&D’, The
https://www.rba.gov.au/publications/rdp/2024/2024-01/references.html
Introduction
15 Feb 2024
RDP
2024-01
Moreover, much of the evidence has focused on narrow measures of innovative activity like research and development (R&D) spending and patenting. ... We then consider the aggregate effect of changes in R&D spending on productivity in Section 6 before
https://www.rba.gov.au/publications/rdp/2024/2024-01/introduction.html
Data and Methodology
15 Feb 2024
RDP
2024-01
Aggregate (log) R&D spending data from the Australian Bureau of Statistics (ABS) national accounts. ... R&D has been linked to both higher novelty of innovation and adoption of innovation (D'Este, Amara and Olmos-Peñuela 2016; Majeed and Breunig 2023).
https://www.rba.gov.au/publications/rdp/2024/2024-01/data-and-methodology.html
Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data
15 Feb 2024
RDP
2024-01
VAR MP effects R&D.wf1. lgdp: log real gross domestic product, seasonally adjusted – ABS Australian National Accounts: National Income, Expenditure and Product. ... Bergeaud A, G Cette and R Lecat (2016), ‘Productivity Trends in Advanced Countries
https://www.rba.gov.au/publications/rdp/2024/2024-01/read-me.html
Non-technical summary for ‘Do Monetary Policy and Economic Conditions Impact Innovation? Evidence from Australian Administrative Data’
15 Feb 2024
RDP
2024-01
The opposite applies for expansionary monetary policy, which is associated with higher R&D spending. ... Focusing on broader survey measures of innovation and technology adoption, rather than only R&D spending, responses differ somewhat across firms.
https://www.rba.gov.au/publications/rdp/2024/2024-01/non-technical-summary.html
Literature Review
15 Feb 2024
RDP
2024-01
Using a vector autoregression (VAR) model, they find that contractionary monetary policy lowers innovative activity, as measured by R&D spending. ... In turn, lower R&D spending tends to lead to slower productivity growth and therefore lower economic
https://www.rba.gov.au/publications/rdp/2024/2024-01/literature-review.html