Abstract :
To evaluatetheeffectofmanagerialinnovationsontheeconomy,aseriesofnew
indicatorscapturingtheseadvancesisconstructed.Threefindingsemergefromthe
analysis.First,followingapositivemanagerialshock,outputandproductivitysignifi-
cantly increaseandhoursmodestlyriseintheshortrun.Second,management
innovationsaregenerallyasimportantasnon-managerialonesinexplainingmove-
ments inthesevariablesatbusinesscyclefrequencies.Finally,productandprocess
innovationshelptopromotethedevelopmentofnewmanagerialtechniques
