The theory of endogenous technical change has deeply contributed to our understanding of the fundamental sources of … structure of endogenous growth models with horizontal as well as vertical innovation and emphasizing important implications for …

“hurdle-rate theory of inventive procyclicality”. High-ERP periods stifle innovation because many R&D projects do not pass …Schumpeterian arguments of “creative destruction” predict that innovation is countercyclical. However, empirical … findings demonstrate the contrary. We apply corporate finance principles to macro- and innovation economics and propose a …