Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24092
Authors: 
Heger, Diana
Year of Publication: 
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

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