Endogenous growth and wave-like business fluctuations
This paper argues that observed long lags in innovation implementation rationalize Schumpeter's statement that “wave-like fluctuations in business ... are the form economic development takes in the era of capitalism.” Adding implementation delays to an otherwise standard endogenous growth model...
| Main Authors: | , , |
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| Format: | Article |
| Published: |
Elsevier
2014
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| Subjects: | |
| Online Access: | https://eprints.nottingham.ac.uk/34424/ |