This paper reassesses the causal relationship between per capita energy use and gross domestic product, while controlling for capital and labour (productivity) inputs in a panel of 30 OECD countries over the past 40 years. The paper uses panel unit root and cointegration testing and specifies an...

This paper presents a model of the life cycle that drives and is driven by R&D. In the model, firms have the option to improve their quality or to invest R&D resources in efficiency gains. Faced with this tradeoff, young firms opt for quality instead of efficiency improvements, whereas more...

This paper argues that recent trends in the global economy have led to a shift in developed countries’ comparative advantage from mature industrial to early stage entrepreneurial production. We develop a three stage product life cycle model in which we distinguish between life cycle...