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Schumpeter, Keynes and the Theory of Economic Evolution

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  • Goodwin, R M
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    Abstract

    The contribution deals with a nonlinear dynamic macro-economic model which is used for simulation runs. Conditions and model specifications allowing for global stability are investigated and tested. Based on this some well-known facts as Schumpeterian long-wave phenomena, Keynesian unemployment, productivity growth effects are simulated. Moreover specifying an instrumental variable for state interventions policy issues are also discussed. With this runs it is shown that minor changes of parameters may provide totally different outcomes and different economic developments.

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    Bibliographic Info

    Article provided by Springer in its journal Journal of Evolutionary Economics.

    Volume (Year): 1 (1991)
    Issue (Month): 1 (January)
    Pages: 29-47

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    Handle: RePEc:spr:joevec:v:1:y:1991:i:1:p:29-47

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    Web page: http://link.springer.de/link/service/journals/00191/index.htm

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    Cited by:
    1. Silva, Ester G. & Teixeira, Aurora A.C., 2008. "Surveying structural change: Seminal contributions and a bibliometric account," Structural Change and Economic Dynamics, Elsevier, vol. 19(4), pages 273-300, December.
    2. Gianfranco Giulioni, 2011. "The product innovation process and GDP dynamics," Journal of Evolutionary Economics, Springer, vol. 21(4), pages 595-618, October.
    3. Villemeur, Alain, 2010. "Economic growth : a chain-reaction between increases in supply and increases in demand ?," Economics Papers from University Paris Dauphine 123456789/6516, Paris Dauphine University.

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