Die Auswertung neu verfügbarer Daten zeigt, dass die Wertschöpfung griechischer Privatunternehmen in den letzten zehn Jahren nominal um 38 Prozent eingebrochen ist. Besonders stark traf es dabei Kleinstunternehmen. Trotz aller Bemühungen, das makroökonomische Umfeld zu stabilisieren, hat...

We develop a Shumpeterian theory of business cycles that relates job creation, job destruction and wages over the cycle to the processes of firm restructuring, innovation and implementation that drive long-run growth. Due to incentive problems, production workers are employed via relational...

We develop a model of "intrinsic" business cycles, driven by the decentralized behaviour of entrepreneurs and firms making continuous, divisible improvements in their productivity. We show how equilibrium cycles, associated with strategic delays in implementation and endogenous innovation, arise...

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,...

Recent empirical work finds that R&D expenditures are quite procyclical, even for firms that are not redit-constrained during downturns. This has been taken as strong evidence against Schumpeterian-style theories of business cycles that emphasize the idea that downturns in production may be good...

This paper traces the role of local content in Zambia's mining sector in supporting industrialization and economic diversification. It assesses productive linkages and manufacturing competitiveness during import-substitution industrialization and post-1991 liberalization and privatization, and...

The present paper provides an overview of literature on the shift to services. It follows the three dimensions of structural change - final demand, the inter-industry division of labor and inter-industry productivity differences. It first looks at the ?classics?, however (Fisher (1935), Clark...

I study a model where Information Technology, while typically increasing overall inequality, is likely to harm some people at intermediate and high levels of the distribution of income but to benefit people at the bottom. Within a given occupation it may harm some workers while benefitting...

Germany remains Europe's largest and most diversified source of new technology, but still lags in the fastest growing areas of today's high technology. After World War II, West-German technology policy sought to rebuild the institutions which had supported Germany's leadership in the high-tech...

Productivity dispersion across firms is large and persistent, and worker reallocation among firms is an important source of productivity growth. The purpose of the paper is to estimate the structure of an equilibrium model of growth through innovation that explains these facts. The model is a...