Abstract We develop a graphical 3-equation New Keynesian model for macroeconomic analysis to replace the traditional IS-LM-AS model. The new graphical IS-PC-MR model is a simple version of the one commonly used by central banks and captures the forward-looking thinking engaged in by the policy...

Innovation and technological change show different rates, types and trajectories depending on the sector in which they take place. Agents and institutions of a sector all exert a major influence on innovation. With contributions from nineteen experts in their field, this book proposes the...

The paper explores the influence of institutional frameworks on the evolution of the German software and biotechnology sectors. It links institutional constraints to poor performance of German firms in high volume market niches characterized by turbulent technological change and substantial...

This paper examines the patterns of technological innovation in Germany, and compares them with those prevalent in the US and UK economies. The paper argues that the institutional features of the German system of innovation lend it comparative advantage in innovation. The paper discusses these...