An analysis of structural change along its main dimensions (relative goods and factor prices, shifts in sectoral output and employment shares, and the respective contributions of process and product innovation) is first presented. Next, capital mobility is introduced as well as Sinn's...

This paper explores macro-, and meso-economic forces shaping search and explorativebehaviour at the firm level. In particular, we focus on top-down selection mechanisms (bothdirect and indirect) that modify the rate and direction of technological change, as well asthe nature of technological...

When people have hierarchic preferences inequality affects innovation-driven growth through the implied demand distribution over new goods. The paper examines the demand path of the firm through its life-cycle and analyzes the efficiency of dynamic resource allocation under different inequality...