Current explanations why a growing economy necessarily goes through booms and recessions predict countercyclical R&D investment. As this is very controversial from an empirical perspective, a stochastic Poissonmodel of endogenous business cycles and growth is presented where the determinants of...

Viridiana Jones and the Temple of Mammon : or, adventures in neoliberal science studies -- [pt.] I. Why we should not depend upon the existing content of an "Economics of Science." The "Economics of Science" as repeat offender -- [pt.] II. A modern economic history of science organization....

Defensive innovations in developed countries can explain the empirical phenomenon that openness towards trade with less-developed countries does not necessarily induce a substantial increase in the wage differential and trade volumes. Building on step-by-step innovations as introduced by Aghion...