Book/Printed Material On the timing of innovation in stochastic Schumpeterian growth models

Title

• On the timing of innovation in stochastic Schumpeterian growth models

Summary

• "Recent work has revived the Schumpeterian hypothesis that recessions facilitate innovation and growth. But a major source of productivity growth, research and development, is actually procyclical. This paper argues that while it is optimal to concentrate growth-enhancing activities in downturns, dynamic spillovers inherent to the R&D process lead private agents to concentrate too much of their R&D activity in booms, precisely when its social cost is highest. Thus, while previous literature has argued recessions promote growth and intertemporal substitution is a desirable consequence of fluctuations, in the case of R&D recessions discourage growth and intertemporal substitution proves to be a social liability"--National Bureau of Economic Research web site.

Names

• Barlevy, Gadi
• National Bureau of Economic Research

Created / Published

• Cambridge, MA : National Bureau of Economic Research, c2004.

Headings

• -  Schumpeter, Joseph A.,--1883-1950
• -  Economic development
• -  Technological innovations

Notes

• -  Title from PDF file as viewed on 1/11/2005.
• -  Includes bibliographical references.
• -  Also available in print.
• -  Mode of access: World Wide Web.
• -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

• HB1

Digital Id

• https://hdl.loc.gov/loc.gdc/gdcebookspublic.2005615487
• http://papers.nber.org/papers/W10741 External

Library of Congress Control Number

• 2005615487

Access Advisory

• Unrestricted online access

Online Format

• image
• pdf

LCCN Permalink

• https://lccn.loc.gov/2005615487

Additional Metadata Formats

• MARCXML Record
• MODS Record
• Dublin Core Record