This study explores the macroeconomics effects of labor unions in a two-country model of directed technical change in which the market size of each country determines the incentives for innovation. We find that an increase in the bargaining power of a wage-oriented union leads to a decrease in...

R&D is considered to be the main source of innovation. We argue that R&D is too broad a measure, including activities differing in purposes, culture, people, management and other features. However, empirical studies have not analyzed them separately, mainly due to the lack of data. Using...

This study analyzes the growth and welfare effects of monetary policy in a two-country Schumpeterian growth model with cash-in-advance constraints on consumption and R&D investment. We find that an increase in the domestic nominal interest rate decreases domestic R&D investment and the growth...

R&D is considered to be the main source of innovation. We argue that R&D is too broad a measure, including activities differing in purposes, culture, people, management and other features. However, empirical studies have not analyzed them separately, mainly due to the lack of data. Using...

The link between R&D and productivity has been widely analyzed. However, these innovation activities have been considered as a whole. This paper analyzes the differentiated effect of research and development on productivity and tests the existence of complementarity between these activities. We...

R&D investment has well-known liquidity problems, with potentially important consequences. In this paper, we analyze the effects of monetary policy on economic growth and social welfare in a Schumpeterian model with cash-in-advance (CIA) constraints on consumption, R&D investment, and...

This study analyzes the cross-country effects of monetary policy on innovation and international technology transfer. We consider a scale-invariant North-South quality-ladder model that features innovative R&D in the North and adaptive R&D in the South. To model money demand, we impose...

The article presents the micro data on intangibles for Slovenia in the period 1994–2005 using an augmented method of Corrado et al. (2005) and analyses the role of intangibles in the Slovenian economy during the transition. By examining the organizational, ICT and R&D component of intangibles,...

In the article, we model R&D as a major endogenous growth element in a small open economy general equilibrium framework and consider several R&D policy scenarios for Slovenia. Increase of the share of sectoral investment in R&D that is deductible from the CIT and increase of government spending...