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Schumpeterian growth theory has "operationalized" Schumpeter''s notion of creative destruction by developing models … growth institutions; (iv) the emergence and impact of long-term technological waves. In each case Schumpeterian growth theory …
Persistent link: https://www.econbiz.de/10010951386
panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study …
Persistent link: https://www.econbiz.de/10005830194
This paper discusses recent theoretical and empirical work on the interactions between growth and business cycles. One may distinguish two very different types of approaches to the problem of the influence of macroeconomic fluctuations on long-run growth. In the first type of approach, which...
Persistent link: https://www.econbiz.de/10005714057
In this paper we develop a multi-sector general equilibrium model of firm heterogeneity, worker heterogeneity and labor market frictions. We characterize the distributions of employment, unemployment, wages and income within and between sectors as a function of structural parameters. We find...
Persistent link: https://www.econbiz.de/10005774821