In earlier work we analyzed empirically the innovative behaviour of Swiss manufacturing firms building on the wide consent in economic literature that demand prospects, type and intensity of competition, market structure, factors governing the production of knowledge (appropriability,...

In their introduction to the special issue of the Review of Economic Dynamics on "Great Depressions of the 20th Century" (Vol. 5, 2002), Timothy J. Kehoe and Edward C. Prescott argue that in the last few years "great depressions" have hit two rich countries: New Zealand and Switzerland. We...