In this paper, we focus on the effects of macroeconomic conditions on commercialisation. Using survey data on the activities of Australian inventors who attempted to commercialise 3,736 inventions over the period 1986--2005, we find evidence that macroeconomic conditions have a pro-cyclical...

One of the major emerging macroeconomic problems during the past century has been the tendency for inflation to accelerate under prolonged periods of full employment. According to Isaac and Kaldor, this arises because the three major objectives of wage earners often conflict. The first objective...