question using unique, granular data on innovation investment in R&D and diffusion from a representative survey of German firms …. Our data allows to identify the crisis-induced innovation investment cuts with mean conditional reductions of -65% (R … estimate that a 1% cyclical output drop translates into a -0.3% fall in innovation investment. Firm-level financial constraints …

We develop a dynamic stochastic general-equilibrium model of science, education and innovation to explain the … simultaneous emergence of innovation clusters and stochastic growth cycles. Firms devote human-capital resources to research … sustainable process of innovation and scale-invariant growth. Jumps in human capital, triggered by scientific breakthroughs …

relationships between innovation and international performance. While periods of upswing are characterised by a well documented … 'virtuous circle'. between innovation inputs, new products and export success, during downswings most of the positive … diversity of technological change allows to disentangle the specificities and effects of innovation inputs and outputs, and of …

except managers experience job losses that are mainly driven by the introduction of process innovation. In services, a … hold. During the downswing most established links break down; in particular, product innovation loses its positive impact …