“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 …

constant relative risk aversion preferences, there are negative externalities in innovation, and there are three kinds of …

constant relative risk aversion preferences, there are negative externalities in innovation, and there are three kinds of …

policies and measurement methods; development theories of innovation, knowledge and space, and regional production factors; and …