Peri, Giovanni; Bottaz, Laura - Economics Department, University of California-Davis - 2005
afore mentioned ""ideagenerating"" process is the engine of productivity growth. Moreover, in real business cycle models … knowledge on technological innovation of a country in the short and in the long run. We find that a country’s stock of knowledge … very significant impact on innovation. As a consequence, a positive shock to R&D in the US (the largest world innovator …