Dachs, Bernhard; Hud, Martin; Koehler, Christian; … - 2016
A growing literature investigates how firms' innovation input reacts to changes in the business cycle. However, so far …, we investigate the employment effects of innovations over the business cycle. Our analysis employs a large data set of … growth is pro-cyclical. It turns out to be positive in all business cycle phases except for the recession. Second, product …