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This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to different realizations of firm specific technology...
Persistent link: https://www.econbiz.de/10013119292
Although there is evidence that apprenticeship training can ease the transition of youth into the labour market and thereby reduce youth unemployment, many policy makers fear that firms will cut their apprenticeship expenditures during economic crises, thus exacerbating the problem of youth...
Persistent link: https://www.econbiz.de/10012925498
Over the past two decades, technological progress has been biased towards making skilled labor more productive. What does skill-biased technological change imply for business cycles? To answer this question, we construct a quarterly series for the skill premium from the CPS and use it to...
Persistent link: https://www.econbiz.de/10013158513
machine learning, we analyze how neo-Schumpeterian growth theorists relate to the entrepreneur-centered view of Schumpeter … (1934) and the entrepreneurless framework of Schumpeter (1942). The literature leans heavily towards Schumpeter (1942 …); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are …
Persistent link: https://www.econbiz.de/10014244277
The aim of this paper is to provide an updated survey of the "state of the art" in entrepreneurial studies, with a particular focus on developing countries (DCs). In particular, the same concept of "entrepreneurship" will be critically discussed, then moving to the institutional, macroeconomic...
Persistent link: https://www.econbiz.de/10013080145
structure of endogenous growth models with horizontal as well as vertical innovation and emphasizing important implications for …
Persistent link: https://www.econbiz.de/10012777881
We investigate the role of factor-priced-induced innovation in mediating the employment impact of expanding production … summarized by Wei, Xie, and Zhang (2017) that focus on directly observable aspects of innovation (R&D, patent activity, etc …
Persistent link: https://www.econbiz.de/10012957004
Technological innovation has historically contributed to inclusive economic growth in Germany. In more recent decades …, however, this contribution has weakened due to the declining impact of technological innovation on labor productivity growth … technological innovation to raise labor productivity. This paper identifies three reasons why technological innovation has become …
Persistent link: https://www.econbiz.de/10012941243
Matched worker-firm data from Danish manufacturing reveal that 1) industries differ in within-firm worker skill dispersion, and 2) the correlation between within-firm skill dispersion and productivity is positive in industries with higher average skill dispersion. We argue that these patterns...
Persistent link: https://www.econbiz.de/10012867157
The objective of this paper is to analyse the role of migrants in innovation in Europe. We use Total Factor … Productivity as a measure of innovation and focus on the three largest European countries – France, Germany and the United Kingdom … migration and innovation at the sectoral level. This allows us to measure the direct contribution of migrants in the sector in …
Persistent link: https://www.econbiz.de/10013013577