This paper presents a theoretical framework along "Classical" lines in which Schumpeter's concept of "Creative Response" is linked to a theory of induced innovation and the concept of technological regimes. We devote particular attention to the role of indivisibilities between factors of...

We analyze sector specific shocks in productivity and demand in 19 manufacturing sectors of the Austrian economy. Based on a structural vector autoregressive (SVAR) model with long run restrictions developed by Gali's (1999) we extract technology and non-technology shocks from sectoral...

In this paper we explore the process of adoption and enforcement of a number of new information processing technologies, such as the typewriter, calculators, tabulation gears and book-keeping machines, starting from the 1880s in the United States. We show that their innovation and diffusion was...

Technological search is often depicted to be random. This paper takes a different view and analyses how innovative recombinant search is triggered, how it is done and what initial conditions influence the final design of technological artefacts. We argue that complementarities...

This paper presents a simple evolutionary model to study the diffusion patterns of product innovations for consumer goods. Following a Veblenian theme, we interpret consumption as a social activity constrained by social norms and equality of opportunity. Societies that allow for more behavioral...

The present paper provides further evidence on the importance of sunk costs as determinant of the turnover, entry, and exit of firms by studying the Austrian manufacturing industry using a 14-year panel . This study explicitly considers sunk costs related to investment in dedicated intangible...

This research explores both industry and temporal aspects of entry, exit and industry turbulence in Austrian manufacturing in the period between 1981 to 1994. It is shown that while the net entry of both firms and establishments is quite stable over time, exit and especially the turnover and...

This paper provides an overview on the evolutionary theory of the firm. The specific feature of the evolutionary approach is that it explains the adaptive behaviors of firms through the tension between innovation and selection. It is suggested that the evolutionary theory can provide a useful...

We present gross, net and productive capital stock estimates for 20 industries of the Austrian manufacturing sector based on the perpetual inventory method for the period 1969-1994. The estimation of the net capital stocks and the volume index of capital services follows an integrated method...

In this paper we explore the determinants of changes in the industrial populations rates in Austrian manufac-turing. The research questions whether or not the nature and causes of the net entry of firms across three dif-ferent stages of entry-exit decision and firm growth are different. Our...