Producers' Optima in Schumpeterian Evolution

Schumpeterian Restructuring

We develop a theory of cyclical unemployment, which relates the processes of job creation and job destruction over the business cycle, to the processes of restructuring, innovation and implementation arising from a model of endogenous cyclical growth. Due to a moral hazard problem, production workers are paid efficiency wages and experience involuntary unemployment. The model captures two key c...

Differential evolution for dynamic environments with unknown numbers of optima

This paper investigates optimization in dynamic environments where the numbers of optima are unknown or fluctuating. The authors present a novel algorithm, Dynamic Population Differential Evolution (DynPopDE), which is specifically designed for these problems. DynPopDE is a Differential Evolution based multi-population algorithm that dynamically spawns and removes populations as required. The n...

Stochastic 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...

Principles of Neo-Schumpeterian Economics

Within the last 25 years large progress has been made in Neo-Schumpeterian Economics, this branch of economic literature which deals with dynamic processes causing qualitative transformation of economies basically driven by the introduction of novelties in their various and multifaceted forms. By its very nature, innovation and in particular technological innovation is the most exponent and mos...

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