We develop a unified theory of endogenous business cycles in which expansions are neoclassical growth periods driven by productivity improvements and capital accumulation, while downturns are the result of Keynesian contractions in aggregate demand below potential output. Recessions allow...

This paper evaluates the impact of an R&D subsidy program implemented in a region of northern Italy on innovation by beneficiary firms. In order to verify whether the subsidies enabled firms to increase patenting activity, we exploit the mechanism used to allot the funds. Since only projects...

In this paper we study a policy tool called technology districts, implemented in Italy over the last decade to foster local innovation activity. First, we examine the characteristics of technology districts and those of the firms within them. Next, we assess the performance of district firms. We...

The importance of innovation for the economic performance of industrialized countries has been largely stressed recently by the theoretical and empirical literature. Moreover the intensity of knowledge externalities in generating innovation, is the key parameter in determining sustained growth...

The idea in this paper is to provide an empirical verification of the relationship between innovation adoption and productivity growth. After a brief revision of the literature about the concept and main determinants of innovation adoption/diffusion, the paper provides empirical evidence of the...

An increasing number of studies have sprung up in recent years seeking to identify individual inventors from patent data. Different heuristics have been suggested to use their names and other information disclosed in patent documents in order to find out, “who is who,” in patents. This paper...

This empirical paper investigates the impact of different sources of increasing returns on firm innovative behaviour in two regions of the UK in the period of the 1990s. We pay particular attention to the impact of intermediate markets such as the market for specialised business services as a...

The importance of innovation for the economic performance of industrialized countries has been largely stressed recently by the theoretical and empirical literature. Very few studies have carefully considered the determinants of European innovation, the productivity of its R&D and the existence...

The idea in this paper is to provide an empirical verification of the relationship between innovation adoption and productivity growth. After a brief revision of the literature about the concept and main determinants of innovation adoption/diffusion, the paper provides empirical evidence of the...

This research proposes an empirical approach to assess the impact of ICT on the level of innovation in Latin America and the Caribbean, considering the existence of economic factors and institutional business environment that contribute to the development of innovation activities to this end an...