The Link Between Firms' Innovation Decision and the Business Cycle: An Empirical Analysis


Heger, Diana


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URL: http://ub-madoc.bib.uni-mannheim.de/934
URN: urn:nbn:de:bsz:180-madoc-9340
Document Type: Working paper
Year of publication: 2004
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: C23 C25 D21 L6 O31 ,
Subject headings (SWD): Deutschland , Innovation , Markov-Ketten-Monte-Carlo-Verfahren
Abstract: The sensitivity of innovation activities with respect to the business cycle is often assumed to be small. In this paper the hypothesis on cyclical dependence of innovation activities is tested for firms in the German manufacturing, and additionally for SMEs. To this end firms' innovation decisions are considered. The decision to innovate in one period is modelled via a first-order Markov chain approach. The results suggest that the patterns in innovative behavior are linked to the business cycle.
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Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Heger, Diana (2004) The Link Between Firms' Innovation Decision and the Business Cycle: An Empirical Analysis. Open Access [Working paper]
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