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A Model of Primary and Secondary Waves in Investment Cycles
Fioretti, Guido - EconWPA - 2002
. Uniting Schumpeter's concern for innovation with Keynes' concern for uncertainty and expectations formation, this article … focuses on the behaviour of entrepreneurs confronting uncertainty caused by innovation. Entrepreneurs' behaviour is … opened up by a successful innovation generates a state of optimism in the minds of single entrepreneurs, which eventually …
Persistent link: https://www.econbiz.de/10005077089
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Innovation and Market Value
Hall, Bronwyn H. - EconWPA - 1999
This paper surveys recent findings about how the financial markets value the knowledge assets of publicly traded firms. The motivation for using market value equation to price knowledge assets is discusssed and the theory behind this equation is briefly presented. Then the empirical literature...
Persistent link: https://www.econbiz.de/10005413048
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Recognizing Investment Opportunities at the Onset of Recoveries
Fioretti, Guido - EconWPA - 2002
Investment decision-making is modeled by means of a Kohonen neural net, where neurons represent firms. This is done in order to model investments in novel fields of economic activity, that according to this model are carried out when firms recognize the emergence of a new technological pattern....
Persistent link: https://www.econbiz.de/10005076670
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Sex, Equality, and Growth (in that order)
Lagerlof, Nils-Petter - EconWPA - 2002
We set up a unified growth model capturing the transition of a primitive and egalitarian hunter-gatherer society, into an advanced and despotic early civilization, and finally into a more egalitarian industrial society. Agents are either landowners or landless; both earn income from human...
Persistent link: https://www.econbiz.de/10005076730
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Embodied technical change in a two-sector AK model
Felbermayr, Gabriel J; Licandro, Omar - EconWPA - 2002
In this paper, we study a two-sector version of the AK model proposed by Rebelo (1991), where constant returns to capital are confined to the investment goods sector. We show that this setup, an endogenous growth extension to the model of Greenwood, Hercowitz, and Krusell (1997), reproduces...
Persistent link: https://www.econbiz.de/10005076755
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The Roads To and From Serfdom
Lagerlof, Nils-Petter - EconWPA - 2002
The institution of slavery displays a puzzling historical pattern: it is found mostly at intermediate stages of agricultural development, in horticultural societies, and less frequently among hunter-gatherers and societies at more advanced agrarian stages. We explain this rise-and- fall pattern...
Persistent link: https://www.econbiz.de/10005125014
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Is Schumpeterian "Creative Destruction" a Plausible Source of Endogenous Real Business Cycle Shocks?
Phillips, Kerk L.; Wrase, Jeff - EconWPA - 2003
This paper looks at the linkages between growth and business cycles by bringing together two strands of literature. We incorporate a quality ladders engine of growth into an otherwise standard real business cycle model. Our fundamental question is, can Schumpeter’s creative destruction process...
Persistent link: https://www.econbiz.de/10005125621
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The Roads To and From Serfdom
Lagerlof, Nils-Petter - EconWPA - 2002
The institution of slavery displays a puzzling historical pattern: it is found mostly at intermediate stages of agricultural development, in horticultural societies, and less frequently among hunter-gatherers and societies at more advanced agrarian stages. We explain this rise-and- fall pattern...
Persistent link: https://www.econbiz.de/10005125652
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A Proposal to Promote Local Competition: The LoopCo Plan
Morris, Roy - EconWPA - 1998
The LoopCo Plan, which uses market mechanisms to promote competition, is the best approach to restructuring the telecommunications market, say its proponents, who object to the requirements and to-date implementation of the Telecommunications Act of l996. The local-loop's spin-off 's consumer...
Persistent link: https://www.econbiz.de/10005126025
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Long-Run Economic Growth: An Interdisciplinary Approach
Kibritcioglu, Aykut; Dibooglu, Selahattin - EconWPA - 2001
Economic growth and development is a complicated process that falls into the domain of many disciplines in social sciences and humanities. It is natural then to study fundamental aspects of economic growth synthesizing research in relevant fields. In this short paper, we argue that this has...
Persistent link: https://www.econbiz.de/10005126120