The basic idea of schumpeterian business cycles is that new, Ask an Expert

Economics

The basic idea of Schumpeterian Business Cycles is that new technologies require creative destruction but will yield positive growth. These two opposing forces have impacts onto the real economy at different times, which will create fluctuations around the trend.

Romer (1986) has these effects in an explicit growth model, but he neglects the business cycle fluctuations.

Has there been any literature of business cycles based on the idea of Schumpeterian Growth?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91408373

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