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Productivity, Adjustment Costs and R&D Investment Prices: An Analysis Of a Panel Of Spanish Manufacturing Companies
The study analyses the role played by adjustment costs and research and development (R&D) investment prices in total R&D productivity. The results show that on average, for each monetary unit increase in adjustment costs produces a fall in productivity of 0.034 monetary units.
Link
http://econwpa.wustl.edu:80/eps/dev/papers/0407/0407004.pdf