Caiani, Alessandro; Godin, Antoine; Lucarelli, Stefano - 2012
Schumpeter showed that the boom and bust cycles are intrinsically related to the functioning of the capitalist economy …. These boom and bust cycles are inherent to the rise innovation. Our paper analyses innovation cycles in a stock flow … paradigm. We present two models. The first one, as a tribute to Schumpeter s work, follows strictly Schumpeter s description of …