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作者:Bowers, Jake; Higgins, Nathaniel; Karlan, Dean; Tulman, Sarah; Zinman, Jonathan
作者单位:University of Illinois System; University of Illinois Urbana-Champaign; Yale University; United States Department of Agriculture (USDA); Dartmouth College
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作者:Carter, Susan Payne; Smith, Alexander A.; Wojtaszek, Carl
作者单位:United States Military Academy; United States Department of Defense; United States Army
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作者:Cohen, Jessica; Lofgren, Katherine; McConnell, Margaret
作者单位:Harvard University; Harvard T.H. Chan School of Public Health; Harvard University; Harvard T.H. Chan School of Public Health
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作者:Dauth, Wolfgang; Findeisen, Sebastian; Suedekum, Jens
作者单位:University of Wurzburg; University of Mannheim; Heinrich Heine University Dusseldorf
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作者:Doleac, Jennifer L.; Hansen, Benjamin
作者单位:University of Virginia; University of Oregon
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作者:Fernholz, Ricardo T.; Koch, Christoffer
作者单位:Claremont Colleges; Claremont McKenna College; Claremont Graduate University; Federal Reserve System - USA; Federal Reserve Bank - Dallas
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作者:Kamada, Yuichiro; Kojima, Fuhito
作者单位:University of California System; University of California Berkeley; Stanford University
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作者:Karahan, Fatih; Michaels, Ryan; Pugsley, Benjamin; Sahin, Aysegul; Schuh, Rachel
作者单位:Federal Reserve System - USA; Federal Reserve Bank - New York; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
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作者:Sarsons, Heather
作者单位:Harvard University
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作者:Howell, Sabrina T.
作者单位:New York University
摘要:Governments regularly subsidize new ventures to spur innovation. This paper conducts the first large-sample, quasi-experimental evaluation of R&D subsidies. I use data on ranked applicants to the US Department of Energy's SBIR grant program. An early-stage award approximately doubles the probability that a firm receives subsequent venture capital and has large, positive impacts on patenting and revenue. These effects are stronger for more financially constrained firms. Certification, where the...