Dieppe, Alistair; Mutl, Jan - European Central Bank - 2013
-sectoral technology transfer, as well as international and intersectoral synergies in research and development (R&D). Furthermore we allow … direct technology transfer is positive while there are negative R&D spillovers. However, since R&D is found to positively … affect TFP in own sector, the model implies that after accounting for both R&D and TFP spillovers, there is a total positive …