Aggregate growth models from a Schumpeterian perspective
نویسندگان
چکیده
منابع مشابه
Growth, Cycles and Welfare: A Schumpeterian Perspective∗
We use a Schumpeterian model in which both the economys growth rate and its volatility are endogenously determined to assess some welfare and policy implications associated with business cycle ßuctuations. Because it features a higher average growth rate than its acyclical counterpart, steady state welfare is higher along the cyclical equilibrium growth path of the model. We assess the impact...
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Article history: Received 22 February 2010 Received in revised form 6 December 2010 Accepted 10 December 2010 JEL classification: E10 L16 O31 O40
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Formal models allow us to make verbal notions operational and confront them with data. Schumpeterian growth theory has “operationalized” Schumpeter’s notion of creative destruction -the process by which new innovations replace older technologies-, in two ways. First, it has developed models based on creative destruction that shed new light on several microeconomic aspects of the growth process:...
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We provide a refoundation of the symmetric growth equilibrium characterizing the research sector of vertical R&D-driven growth models. We argue that the usual assumptions made in this class of models leave the agents indi¤erent as to where targeting research: hence, the problem of the allocation of R&D investment across sectors is indeterminate. By introducing an " contamination of con dence ...
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ژورنال
عنوان ژورنال: Revista Brasileira de Inovação
سال: 2020
ISSN: 2178-2822,1677-2504
DOI: 10.20396/rbi.v19i0.8654621