In this paper, we present an evolutionary model of industry dynamics yielding endogenous business cycles with 'Keynesian' features. The model describes an economy composed of firms and consumers/workers. Firms belong to two industries. The first one performs R&D and produces heterogeneous...

This paper discusses, first, the properties of scientific and technological knowledge and the institutions supporting its generation and its economic applications. The evidence continues to support the broad interpretation which we call the ʺStanford-Yale-Sussexʺ synthesis. Second, such...

This paper investigates the relationships between firm organization attributes, namely a structure á la Chandler, and their inward looking or exploitationʺ attitude in R&D and innovation. We argue that because of sunk costs and learning processes an inward looking behavior is a consequence of...