This paper extends the q-theory of investment to model explicitly the decision of firms to invest in intangibles and … investment to the overall capital stock. The downward trend in the aggregate investment deflator series reported by national … in the price of intangibles rather than focusing only on their rising share in overall investment …

This paper presents an analysis of the determinants of private investment in the Caribbean region, using data for the … econometric model assessing the impact of education and other variables on the share of private investment in GDP. The empirical … formation. Public investment has a negative effect on private investment, while real interest rates and external debt burdens …

We study bank portfolio allocations during the transition of the real sector to a knowledge economy in which firms use … robust to controlling for real estate loan demand. Our results suggest that increased firm investment in intangible assets …

The advancement of the knowledge frontier is crucial for technological innovation and human progress. Using novel data … talent is a central ingredient in the production of knowledge. Second, such talented individuals born in low- or middle …-income countries are systematically less likely to become knowledge producers. Our findings suggest that policies to encourage …

How important is foreign knowledge for domestic innovation outcomes? How is this relation shaped by globalization and … barriers to the domestic diffusion of foreign knowledge have fallen significantly for emerging economies. For all countries …, and especially for emerging economies, inflows of foreign knowledge have a growing and quantitatively important impact on …

The knowledge production function is central to R&D-based growth models. This paper empirically investigates the … knowledge production function and intertemporal spillover effects using cointegration techniques. Time-series evidence suggests … there are two long-run cointegrating relationships. The first captures a long-run knowledge production function; the second …

For US postwar data, the paper explains central consumption, labor, investment and output correlations and volatilities … along with output growth persistence by including a human capital investment sector and a variable physical capital … investment sectors that has variances 10,000 fold smaller than in the standard RBC TFP shock. Simulated moments are compared to …