The role of product innovations is growing in the world economy, and the EU and the US are key players here. The analysis presented herein explains product innovations in the EU25 for the period 2006-2012, namely through lagged R&D (relative to GDP), cumulated FDI inflows (relative to the host...

The role of product innovations is growing in the world economy, and the EU and the US are key players here. The analysis presented herein explains product innovations in the EU25 for the period 2006-2012, namely through lagged R&D (relative to GDP), cumulated FDI inflows (relative to the host...

The role of product innovations is growing in the world economy, and the EU and the US are key players here. The analysis presented herein explains product innovations in the EU25 for the period 2006-2012, namely through lagged R&D (relative to GDP), cumulated FDI inflows (relative to the host...

The standard BRANSON model is modified in a way which allows one to focus on the short term dynamics of foreign bonds markets, the money market and the stock market - or alternatively the oil market. This allows us to explain the dynamics of the exchange rate and the oil price within a portfolio...

This paper analyzes the impact of the real exchange rate on trade, structural change and growth. We point out a new approach to monetary growth policy in an open economy with trade and foreign direct investment. Moreover, the analysis presents a paradox effect with respect to the link between...

In May 2009 Ulrich Hedtke presented a paper at the Schumpeter School Kolloquium dealing with Schumpeter’s perception of the entrepreneur. In his paper he argues that Schumpeter’s concept of entrepreneurship changed over time, illustrates the transition of Schumpeter’s ideas, and discusses...

This paper studies the relationship between trade credit and innovation. While trade credit is well researched in the finance literature, its link to innovation has been neglected in prior research. We argue that innovative small and medium-sized enterprises (SMEs) are more likely to use trade...