Aghion And Howitt’s Basic Schumpeterian Model Of Growth Through Creative Destruction: A Geometric Interpretation
AbstractThe present paper takes a geometric approach to characterize the competitive forces behind innovation and dynamic general equilibria determination in the model of growth through creative destruction constructed by Aghion and Howitt (1992). All can be comprehended intuitively from the geometric presentation. While Aghion and Howitt‘s original presentation of the basic model was essentially analytical, often with fairly intricate mathematics focusing on stationary equilibria with positive growth, the geometric presentation taken here has the benefit of making what in the original paper was a bundle of mathematical notation more comprehensible intuitively.
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Bibliographic InfoPaper provided by Universidade do Porto, Faculdade de Economia do Porto in its series FEP Working Papers with number 248.
Length: 7 pages
Date of creation: Oct 2007
Date of revision:
Endogenous growth; innovation; creative destruction; general equilibrium;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-10-27 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Philippe Aghion & Peter Howitt, 1990.
"A Model of Growth Through Creative Destruction,"
NBER Working Papers
3223, National Bureau of Economic Research, Inc.
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- Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
- Scherer, F M, 1972. "Nordhaus' Theory of Optimal Patent Life: A Geometric Reinterpretation," American Economic Review, American Economic Association, vol. 62(3), pages 422-27, June.
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