The effect of business cycles on growth: Keynes vs. Schumpeter.

In contrast to recent ‘neo-Schumpeterian’ models, which argue that business cycles are good for growth, we develop a ‘neo-Keynesian’ model, where monopolistically competitive firms set prices and produce output in advance of the realization of (stochastic) monetary velocity. In such a setting, ther...

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Bibliographic Details

Published in:	Economic Inquiry Vol. 36; no. 3; pp. 501 - 512
Main Authors:	Dehejia, Vivek H., Rowe, Nicholas
Format:	Article
Published:	Wiley-Blackwell July 1998
Subjects:	Schumpeter, Joseph Alois, 1883-1950 Keynesian economics Mathematical models of business cycles
Online Access:	View this record in EBSCOhost