A recent study argues that the contraction in total trade that occurred during the crisis was mainly driven by the fall in high quality goods, which should have higher income elasticity owing to a non-linear Engel curve. Our aims are, on the one hand, to test the quality Engel curve assumption...

According to Schumpeter (1936), the entrepreneur is the main protagonist of the innovative process and firms are only a vehicle through which the entrepreneur brings innovations to the market. A substantial share of entrepreneurs shows a very low reservation profit, do not innovate, are not...