schumpeterian novelty; creating, distributing and influencing

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...

Novelty and Adaptive Novelty

In this paper we briefly describe Novelty and Adaptive Novelty, two high-performance, stochastic local search (SLS) algorithms for SAT. Based on the WalkSAT architecture, these algorithms combine search intensification and diversification feautures that lead to good peformance on a broad range of SAT instances. The performance of the Novelty algorithm critically depends on the setting of a soca...

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...

No . 102 A Schumpeterian Renaissance ?

Growth, Cycles and Welfare: A Schumpeterian Perspective∗

We use a Schumpeterian model in which both the economy’s 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...

Growth and Development : A Schumpeterian Perspective

To sustain growth, Canada must engage in a never-ending process of economic development and transformation. To do so, new growth theory indicates that Canada should ensure that competition policy boosts innovation, and that we should beware of further extending patent protection , while welcoming international trade and technological change.