Publication
A simple business-cycle model with Shumpeterian features
| dc.contributor.author | Costa, Luis F. | |
| dc.contributor.author | Dixon, Huw David | |
| dc.date.accessioned | 2024-02-23T14:39:51Z | |
| dc.date.available | 2024-02-23T14:39:51Z | |
| dc.date.issued | 2007 | |
| dc.description.abstract | We develop a dynamic general equilibrium model of imperfect competition where a sunk cost of creating a new product regulates the type of entry that dominates in the economy: new products or more competition in existing industries. Considering the process of product innovation is irreversible, introduces hysteresis in the business cycle. Expansionary shocks may lead the economy to a new ‘prosperity plateau,’ but contractionary shocks only affect the market power of mature industries. | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Costa, Luis F. and Huw David Dixon .(2007). “A simple business-cycle model with Shumpeterian features”, Cardiff Business School | Cardiff Economics Working Papers, No. E 2007/28. Available at WWW. ECONSTOR EU . (Search PDF in 2024) | pt_PT |
| dc.identifier.issn | 1749–6101 | |
| dc.identifier.uri | http://hdl.handle.net/10400.5/30195 | |
| dc.language.iso | eng | pt_PT |
| dc.publisher | Cardiff Business School | ECONSTOR EU | pt_PT |
| dc.relation.ispartofseries | Cardiff Economics Working Papers, No. 2007/28. | |
| dc.subject | Entry | pt_PT |
| dc.subject | Hysteresis | pt_PT |
| dc.subject | Mark-Up | pt_PT |
| dc.title | A simple business-cycle model with Shumpeterian features | pt_PT |
| dc.type | working paper | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | workingPaper | pt_PT |