منابع مشابه
Monetary Policy and Endogenous Market Structure in a Schumpeterian Economy
In this study, we develop a monetary Schumpeterian growth model with endogenous market structure (EMS) to explore the e¤ects of monetary policy on the number of rms, rm size, economic growth and social welfare. EMS leads to richer implications and di¤erent results from previous studies in which market structure is exogenous. In the short run, a higher nominal interest rate leads to lower grow...
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This study explores the different implications of patent breadth and R&D subsidies on economic growth and endogenous market structure in a Schumpeterian growth model. We find that when the number of firms is fixed in the short run, patent breadth and R&D subsidies serve to increase economic growth as in previous studies. However, when the number of firms adjusts endogenously in the long run, R&...
متن کاملLessons from Schumpeterian Growth Theory
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:...
متن کاملStochastic Growth in Schumpeterian Dynamics
This paper discusses three key elements of stochastic growth in the Schumpeterian dynamics. These elements comprise the new entry of firms in an industry, the displacement of the old technology by the new and the nonlinear impact of learning by doing on the growth of innovating firms. Each of these elements has important implications for the new theory of endogenous growth. * Department of Econ...
متن کاملGrowth, 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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ژورنال
عنوان ژورنال: Journal of Economic Behavior & Organization
سال: 2007
ISSN: 0167-2681
DOI: 10.1016/j.jebo.2004.09.014