A carregar...
Publicação
A simple business-cycle model with schumpeterian features
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 262.99 KB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
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.
Descrição
Palavras-chave
Entry Hysteresis Mark-up
Contexto Educativo
Citação
Costa, Luís F. e Huw D. Dixon. 2005. "A simple business-cycle model with schumpeterian features". Instituto Superior de Economia e Gestão - DE Working papers nº 16-2005/DE/UECE
Editora
ISEG – Departamento de Economia