Using US data for the period 1959-2007, we identify sectoral productivity shocks and capital investment-specific shocks by employing a Vector Autoregression whose shock structure is disciplined by a general equilibrium model. Controlling for real and nominal factors, we find that capital...

The field of advanced materials (AM) is expected to experience considerable growth and has the potential to make a substantial impact on numerous industries, markets and applications. Much like IT and biotech before it, advanced materials face the many commercialization challenges of...

Whether entrepreneurial firms discover or create opportunities is a classic debate, here explored in the context of disruptive innovations. In this paper we reframe the question to focus not on the nature of entrepreneurial opportunity but on how and for whom entrepreneurs undertake disruptive...

A consensus in the growth literature is that scale effects of R&D are non-existent across mature industrialized economies. However, the scrutiny across emerging economies is lacklustre at best. The empirical studies of scale effects also leave the issues of unbalanced regression (non-standard...