Based on comprehensive regression analysis, the authors find that weak wage growth and a smaller labour share of national income significantly reduce labour productivity growth. They conclude that supply-side labour market reforms have contributed to reducing labour productivity growth: this...

<title>Abstract</title> Nickell <italic>et al</italic>. (2005) have frequently been cited as empirical evidence that labor market rigidities cause high unemployment. We find that their model is <underline>not</underline> robust. Leaving their database unchanged and changing three details in their estimation procedure, it turns out that several...

Mainstream economists argue that unemployment can be reduced by deregulation of labor markets, that is, by easier firing, reduction of minimum wages and social benefits, and so forth. Our panel data analysis shows that wage-cost saving flexibilization of labor markets has a negative impact on...

The Elgar Companion to Neo-Schumpeterian Economics is a cutting-edge collection of specially commissioned contributions highlighting not only the broad scope but also the common ground between all branches of this prolific and fast developing field of economics.

Knowledge about non-R&D expenditure on innovation activities such as patenting and licensing, design, trial production, tooling- up, manpower training, market research and investment in fixed assets, is still extremely sparse. Questions about the latter were very poorly answered in the recent...