R&D expenditure in G7 countries and the implications for endogenous fluctuations and growth

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Micro and macro policies in the Keynes+Schumpeter evolutionary models (2016, unknown): “…is pro-cyclical and coincident, net investment, changes in inventories, productivity, nominal wages and inflation are pro-cyclical; unemployment, prices and mark-ups are counter-cyclical; the real wage is a-cyclical.7 Finally, R&D investment is pro-cyclical (SF6, see e.g. Walde and Woitek 2004).”
Endogenous Growth Cycles (2005, background): “The currently most comprehensive study on cyclical properties of R&D expenditure (Wälde and Woitek, 2004), however, finds that R&D expenditure in G7 countries is procyclical in the majority of cases.”