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)
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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.
- Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," UWO Department of Economics Working Papers 8904, University of Western Ontario, Department of Economics.
- Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," Working papers 527, Massachusetts Institute of Technology (MIT), Department of Economics.
- Aghion, P. & Howitt, P., 1990. "A Model Of Growth Through Creative Destruction," DELTA Working Papers 90-12, DELTA (Ecole normale supérieure).
- Sinclair, Peter J N, 1981. "When Will Technical Progress Destroy Jobs?," Oxford Economic Papers, Oxford University Press, vol. 33(1), pages 1-18, March.
- 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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