The paper examines the long-run relationship between innovation and per capita economic growth in the 19 European countries over the period 1989–2014. This study uses six different indicators of innovation: patents-residents, patents-non-residents, research and development expenditure,...

This paper employs a panel vector autoregressive model for the member countries of the Euro Area to explore the role of banks during the slump of the real economy that followed the financial crisis. In particular, we seek to quantify the macroeconomic effects of adverse loan supply shocks, which...