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http://hdl.handle.net/10419/24092
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| Title: | | The Link Between Firms? Innovation Decision and the Business Cycle: An Empirical Analysis  |
| Authors: | | Heger, Diana |
| Issue Date: | | 2004 |
| Series/Report no.: | | ZEW Discussion Papers 04-85 |
| Abstract: | | The sensitivity of innovation activities with respect to the business cycle is often assumed to be small. In this paper the hypothesis on cyclical dependence of innovation activities is tested for firms in the German manufacturing, and additionally for SMEs. To this end firms? innovation decisions are considered. The decision to innovate in one period is modelled via a first-order Markov chain approach. The results suggest that the patterns in innovative behavior are linked to the business cycle. |
| Subjects: | | Innovation Business Cycle Panel Model Markov Chains |
| JEL: | | L6 D21 O31 C23 C25 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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