An analytical innovation enhances microeconomics, enabling it to answer all questions of macroeconomics. It combines …

innovation height matters. We also find evidence that TFP growth is better represented by an upward shift of the production … function than by a continuous innovation measure. Overall, the growth gains that we find are comparable to the ones of the …We examine the contribution of incremental and radical innovations to total factor productivity (TFP) growth at the …

This paper surveys the economic literature on the links between finance, law and growth in the Central and Eastern … based on an adequate legal system it can positively contribute to economic growth. However, the financial system in CEE …

industry in most cases, however, has displayed stagnating productivity growth, in some periods even a fall in productivity …. Does this fast-growing industry with a bad productivity record present a threat to aggregate productivity growth and, hence …, to future economic growth? Reviewing existing empirical evidence, the paper argues that this concern need not be valid …

There is much talk of the knowledge economy, and the central role of ideas and knowledge in generating economic growth … output or higher rates of growth. Ideas are complementary inputs into production, in the sense that they raise the …. For investments in ideas to generate output growth, these complementarities must be particularly strong. I conclude with …

The social consequences of restructuring can largely be understood in terms of the net employment impact and the imapct … on government expenditures and revenues. When restructuring entails unemployment, government expenditure can mitigate the … welfare spending). Restructuring, however, doesn't cause unemployment per se. Restructuring involves chnages to the 'rules of …