Growth and business cycles have a long tradition of being studied separately. However, events such as the Great Recession raise concerns that severe downturns may have detrimental implications for growth. If so, what policies may help alleviate such long-lasting effects of large recessions? To...

In the context of increasing globalization, global competition and rapid change the EU sees innovation and its commercialization as an effective way to build long-term global competitive advantage. Innovation policy is a link between research and technological development policy and industrial...