capital is positively influenced by the size of the R&D sector, sheds new light on innovation and growth as well as income …

types of innovation resulting in opposing effects on marginal production costs and prices. In general equilibrium, financial …). Consequently, credit tightening leads to firm exit, increased innovation activity among existing suppliers, and welfare losses that …

in many advanced economies. While process innovation can be job-destroying, product innovation can imply the emergence of … new firms, new sectors, and thus new jobs. But even for process innovation, the final impact on labor demand is shaped by … impede them. Policies should maximize the job-creation effect of product innovation and minimize the direct labor …