López-García, Paloma; Montero, José Manuel; … - In: Industry and Innovation 20 (2013) 7, pp. 611-636
This paper tests the opportunity-cost theory on the long-run effects of business cycles using a panel of Spanish firms during the period 1991--2010. Under this theory, the <italic>share</italic> of productivity-enhancing activities (PEAs), such as R&D investment or on-the-job training, relative to production...