We develop an endogenous growth model where data drives innovation. In this model, big data fosters quality improvements by influencing the likelihood and magnitude of successful quality-enhancing innovations. It also promotes variety innovation through the efficient allocation of labor as a...

We develop an endogenous growth model incorporating the spirit of capitalism and examine how it influences innovation and economic growth. In the benchmark homogeneous-ability model, we find that the spirit of capitalism increases both the capital accumulation rate by enhancing consumer patience...

Robots are continuously transforming industrial production worldwide and thereby also inducing changes in a variety of production-related economic and social relations. While some observers call this transformation an unprecedented "revolution", others regard it as a common pattern of capitalist...

Robots are continuously transforming industrial production worldwide and thereby also inducing changes in a variety of production-related economic and social relations. While some observers call this transformation an unprecedented "revolution", others regard it as a common pattern of capitalist...

Robots are continuously transforming industrial production worldwide and thereby also inducing changes in a variety of production-related economic and social relations. While some observers call this transformation an unprecedented "revolution", others regard it as a common pattern of capitalist...

Robots are continuously transforming industrial production worldwide and thereby also inducing changes in a variety of production-related economic and social relations. While some observers call this transformation an unprecedented "revolution", others regard it as a common pattern of capitalist...

Technological advancements in the means of production are the driving force behind the changes in the prevailing system of socio-economic relations. Feudalism was transformed into capitalism as a result of such advancements. While man obtained physical freedom, the financial freedom remained...

The influence of radical uncertainty and expectations on economic behaviour is indisputable, whether on entrepreneurship, innovation, investment, or the behaviour that contributes to the business cycle. It is rather surprising, therefore, to see widespread ambiguities in accounts of this crucial...

Robots are continuously transforming industrial production worldwide and thereby also inducing changes in a variety of production-related economic and social relations. While some observers call this transformation an unprecedented "revolution", others regard it as a common pattern of capitalist...

We use a Schumpeterian model in which both the economy's growth rate and its volatility are endogenously determined to assess some welfare and policy implications associated with business cycle fluctuations. Because it features a higher average growth rate than its acyclical counterpart,...