FAGIOLO, G.; DOSI, G.; GABRIELE, R. - In: Advances in Complex Systems (ACS) 07 (2004) 02, pp. 157-186
In this paper, we present an agent-based, evolutionary, model of output- and labor-market dynamics. Firms produce a homogeneous, perishable good under constant returns to scale using labor only. Labor productivities are firm-specific and change stochastically due to technical progress. The key...