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position) affect such innovation transfer activities. While women generate fewer inventions than men, the fulltime employed …Institutions of higher education are considered as an important source of innovation. Consequently, big efforts are … generated inventions remains unexploited. Based on this finding, we analyze how individual, career-related, and institutional …
Persistent link: https://www.econbiz.de/10011535490
financial system, but also to Schumpeter's views on financing innovation. …, innovations, and the advance of human knowledge-the rate of growth of capacity has slowed. The past quarter century witnessed the … greatest explosion of financial innovation the world had ever seen. Financial fragility grew until the economy collapsed into …
Persistent link: https://www.econbiz.de/10011545297
Schumpeter, a century ago, argued that boom-and-bust cycles are intrinsically related to the functioning of a … capitalistic economy. These cycles, inherent to the rise of innovation, are an unavoidable consequence of the way in which markets … evolve and assimilate successive technological revolutions. Furthermore, Schumpeter's analysis stressed the fundamental role …
Persistent link: https://www.econbiz.de/10010318638
This study examines the evolution of econometric research in business cycle analysis during the 1960-90 period. It shows how the research was dominated by an assimilation of the tradition of NBER business cycle analysis by the Haavelmo-Cowles Commission approach, catalysed by time-series...
Persistent link: https://www.econbiz.de/10010280775
the product cycle as it is superseded by further innovations. The intrinsic reason that innovation happens in our economy …We develop a general equilibrium model of vertical innovation in which multiple firms compete monopolistically in the … is not one of displacing the incumbent; rather, innovation is a means to differentiate oneself from existing firms and …
Persistent link: https://www.econbiz.de/10011430082
This paper studies the cyclical pattern of ex post markups in the banking system using balance-sheet data for a large set of countries. Markups are strongly countercyclical even after controlling for financial development, banking concentration, operational costs, inflation, and simultaneity or...
Persistent link: https://www.econbiz.de/10010292221
Credit constraints that link a private agent’s debt to market-determined prices embody a credit externality that drives a wedge between competitive and constrained socially optimal equilibria, inducing private agents to overborrow. The externality arises because agents fail to internalize the...
Persistent link: https://www.econbiz.de/10010292300
We study how total factor productivity (TFP), energy prices, and the Great Moderation are linked. First we estimate a joint stochastic process for the energy price and TFP and establish that until the second quarter of 1982, energy prices negatively affected productivity. This spillover has...
Persistent link: https://www.econbiz.de/10010292361
If and how the conduct of the banking sector contributes to the propagation of aggregate shocks has become a prominent empirical research question. This study explores what a cyclicality analysis of net interest margins and spreads, as well as profitability figures, can contribute to the...
Persistent link: https://www.econbiz.de/10010294520
This study explores an important aspect of how the Austrian banking sector contributes to the propagation of aggregate shocks. Time series data for the 1995-2003 period are applied to examine the cyclical variations in interest rate spreads. Differentials between interest rates on loans and...
Persistent link: https://www.econbiz.de/10010294559