), allows for causal interpretation of the relationship between innovation output and labor productivity. We find that knowledge … intensive services benefit from innovation activities in the sense that these activities causally increase their labor …

), allows for causal interpretation of the relationship between innovation output and labor productivity. We find that knowledge … intensive services benefit from innovation activities in the sense that these activities causally increase their labor …

manufacturing. Results from our structural models indicate that KIS firms benefit from innovation activities through increased labor … productivity with highly skilled employees being similarly important compared to R&D for creating innovation output in microfirms … firms having a higher probability of initiating innovation activities and of successfully turning knowledge into innovation …

), allows for causal interpretation of the relationship between innovation output and labor productivity. We find that knowledge … intensive services benefit from innovation activities in the sense that these activities causally increase their labor …

a ''hurdle-rate theory of inventive procyclicality'' and offer supportive evidence at the firm level. High-ERP periods … stifle innovation because many R&D projects do not pass corporate budgeting decisions when discount rates are high … with Schumpeter's countercyclical theory, we show that firms engaging in exploratory search suffer less during high …

“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 …