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A Simple Model of Schumpeterian Growth with Complex Dynamics

Author

Listed:
  • Deissenberg, C
  • Nyssen, J.

Abstract

In this paper, we develop a Schumpeterian discrete-time model of endogeneous growth with an explicit market for the resource used for innovation-creating investment, and study its global dynamics. We show, among others, that the level of investment may fluctuate chaotically for a compact range of model parameters, as a consequence of the explicit intermediation and market imperfections (temporary monopoly power following an innovation) underlying the growth process.

Suggested Citation

  • Deissenberg, C & Nyssen, J., 1997. "A Simple Model of Schumpeterian Growth with Complex Dynamics," G.R.E.Q.A.M. 97a01, Universite Aix-Marseille III.
    • Handle: RePEc:fth:aixmeq:97a01
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    Cited by:

    1. is not listed on IDEAS
    2. Iwaisako, Tatsuro & Tanaka, Hitoshi, 2017. "Product cycles and growth cycles," Journal of International Economics, Elsevier, vol. 105(C), pages 22-40.
    3. Kunihiko Konishi, 2015. "Growth Cycles in a Two-country Model of Innovation," Discussion Papers in Economics and Business 15-07, Osaka University, Graduate School of Economics.
    4. Haruyama, Tetsugen, 2009. "R&D policy in a volatile economy," Journal of Economic Dynamics and Control, Elsevier, vol. 33(10), pages 1761-1778, October.
    5. Lambson, Val E. & Phillips, Kerk L., 2007. "Market structure and Schumpeterian growth," Journal of Economic Behavior & Organization, Elsevier, vol. 62(1), pages 47-62, January.
    6. Walde, Klaus, 2002. "The economic determinants of technology shocks in a real business cycle model," Journal of Economic Dynamics and Control, Elsevier, vol. 27(1), pages 1-28, November.

    More about this item

    Keywords

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    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • C69 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Other

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