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This research empirically establishes and theoretically motivates the hypothesis that population aging has a hump-shaped effect on inventive activity. We estimate this hump-shaped relationship in a panel of 33 OECD countries over the period 1960-2012. The increasing part of the hump captures the...
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“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 …
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innovation investments that increase the productivity of capital and labor in the performance of their respective tasks. These …
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innovation investments that increase the productivity of capital and labor in the performance of their respective tasks. These …
Persistent link: https://www.econbiz.de/10011404419
expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new …
Persistent link: https://www.econbiz.de/10003779148
expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new …
Persistent link: https://www.econbiz.de/10003791799