Nickell, Stephen; Nicolitsas, Daphne; Patterson, Malcolm - In: Oxford Bulletin of Economics and Statistics 63 (2001) 1, pp. 5-28
In this paper we have undertaken an empirical analysis of the notion that firms introduce managerial innovations as a consequence of bad times, as in the "pit-stop" view of recessions. We first analyze a dynamic model of the firm and conclude that a competitive firm operating in a perfect...
