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The effect of changes in demographic structure on medium-run trends of key macroeconomic variables is estimated using a Panel VAR of 21 OECD economies. The panel data variability assists the identification of direct effects of demographics, while the dynamic structure uncovers long-term effects....
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productivity effects of spillovers were at best smaller than intramural R&D productivity effects. We also find that building on the … greater skills and experience of enterprises already undertaking R&D (intensity) raised labour productivity more than … firms could boost productivity either by abandoning extramural R&D or by doing much more. There were substantial differences …
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