Aghion And Howitt’s Basic Schumpeterian Model Of Growth Through Creative Destruction: A Geometric Interpretation
The 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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- Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
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"A Model of Growth Through Creative Destruction,"
NBER Working Papers
3223, National Bureau of Economic Research, Inc.
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