Innovative Activity Over the Buisness Cycle:an Alternative Interpretation
S. Yao and
Alan Collins ()
Working Papers from Portsmouth University - Department of Economics
Geroski and Walters (1995) conclude that changes in manufacturing output Granger caused changes in innovative activity and that the latter fluctuated pro-cyclically during the period 1948-83 in the UK. This note shows that their modelling method is inappropriate and results misleading. Alternative VAR models are estimated showing no evidence supporting any of their conclusions. Moreover,neither of the two cointegration relationships (reluctantly) identified by Geroski and Walters are verified.
Keywords: INNOVATIONS; BUSINESS CYCLES (search for similar items in EconPapers)
JEL-codes: C30 C39 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:fth:portec:64
Access Statistics for this paper
More papers in Working Papers from Portsmouth University - Department of Economics U.K.; University of Portsmouth; Department of Economics, Locksway Road, Milton, Southsea Hants PO4 8JF, UK. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Krichel ().